Telecom Italia Appoints New CEO

Telecom Italia announced the appointment of Flavio Cattaneo as CEO, following the departure of Marco Patuano as CEO and Director. Cattaneo currently heads the rail network NTV SpA-Nuovo Trasporto Viaggiatori.

News reports cited a management conflict between Patuano and the Telecom Italia Board. As severance, Patuano was paid an additional amount of 1,235,000 euros gross with respect to termination of the directorship and 4,765,000 euros gross with respect to termination of the employment contract for a amount of 6,000,000 euros gross.

http://www.telecomitalia.com/