(Alliance News) - Telecom Italia Spa announced Friday that Elio Schiavo has been appointed chairman of the board of directors of Olivetti, a wholly owned group benefit company active in the field of Internet of Things.

Elio Schiavo, who joined TIM last May with the task of leading the reorganization process of its Enterprise business, is currently TIM's Chief Enterprise and Innovative Solutions Officer and CEO of Noovle, the group's subsidiary active in the Cloud sector.

Olivetti operates as part of TIM Enterprise, the business unit dedicated to Public Administration and large customers for which it is planned to be socialized with a view to enhancing all reference assets related to connectivity, Cloud, IoT and Cybersecurity.

Olivetti's shareholders' meeting, which appointed Elio Schiavo as chairman, also renewed the composition of the board of directors, "currently made up of more than 60 percent female presence, reflecting the TIM group's commitment to overcome gender inequality with concrete actions," as the company explained in a note.

On Friday, TIM closed down 0.6 percent at EUR0.26 per share.

By Claudia Cavaliere, Alliance News reporter

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