Italy's INWIT elevates CFO Galli to general manager role
Reuters
Published Oct 07, 2022 15:50
MILAN (Reuters) - INWIT on Friday promoted chief financial officer Diego Galli to the role of general manager as part of a new governance setup following the sale of most of Telecom Italia (BIT:TLIT)'s stake in Italy's top telecom towers firm.
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 (LON:VOD).
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Under an initial plan, Ferigo would have been replaced by a new CEO identified by Vodafone.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.
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Written By: Reuters
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