Vivendi Calls for Urgent Telecom Italia Board Meeting to Replace Elliott’s Board Members
The move came just one month after the board voted to sack former CEO Amos Genish, appointed by Vivendi in September 2017
Diana Bahur-Nir | 11:41 16.12.2018
French media group Vivendi SA has sent a letter to the board of directors of Telecom Italia SpA (TIM) to request an urgent shareholders’ meeting that will include a vote to revocate five of 10 board members, appointed by minority shareholder Elliott Management Corporation, Vivendi announced Friday.
For daily updates, subscribe to our newsletter by clicking here.Vivendi claimed these shareholders “showed a substantial lack of independence and disrespect for the most basic and fundamental corporate governance rules, negatively affecting the organization and image of Telecom Italia.”