News
Telecom Italia’s consumer chief reportedly favourite to replace Rodrigo Abreu; decision due on 11 May.
TIM Brasil this week confirmed that its senior management is under review by parent Telecom Italia, and that changes could be announced later this month.
The disclosure, made on Monday, came amid ongoing speculation about the Italian incumbent’s continued presence in Brazil.
According to unnamed sources in a Bloomberg report, Stefano De Angelis, head of Telecom Italia’s consumer business, is the leading candidate to replace TIM Brasil CEO Rodrigo Abreu, who will become chairman.
Abreu was appointed to his current role in February 2013, joining the company from Cisco, where he served as president of the kit maker’s Brazilian business.
"The company clarifies that the appointment of its and directors and the CEO, whose terms have expired, will be held at the next meeting of its board of directors, scheduled for May 11 2016," said TIM Brasil, in a brief statement.
The announcement was made less than a week after Telecom Italia named Vivendi chief executive Arnaud de Puyfontaine as its deputy chairman.
France-based Vivendi is Telecom Italia’s biggest single shareholder, with a stake of 24.9%, just below the 25% mandatory takeover bid threshold.
Its influence increased late last year when it secured the right to enlarge Telecom Italia’s board, which now counts four Vivendi executives among its membership, including de Puyfontaine.
It is rumoured that Vivendi is in favour of selling TIM Brasil, and concentrating Telecom Italia’s efforts and resources on becoming a southern European-focused media group.
