Earlier this year Telecom Italia (TIM) agreed to sell a 12.4% indirect stake in Milan-listed INWIT to French investment firm Ardian, which became the company's second largest investor behind Vodafone.

The deal triggered a far-reaching board reshuffle and the resignation of chief executive officer Giovanni Ferigo.

Under an initial plan, Ferigo would have been replaced by a new CEO identified by Vodafone.

But all candidates approached during a search process failed to reach an agreement on taking the job, sources familiar with the matter said, indicating non-compete clauses among other hurdles.

A former Vodafone executive, Galli has been INWIT's head of finance since 2020.

(Reporting by Elvira Pollina; Editing by Keith Weir)