Gubitosi, a former Rai and Wind CEO, is currently state-appointed commissioner of airline Alitalia and was one of the independent directors appointed by US activist fund Elliott Management, TIM’s second-largest shareholder, which seized control of the operator’s board from Vivendi in May. In its brief statement, the operator said Gubitosi would give up his position as an independent director and would no longer sit on its control and risk committee. Gubitosi himself said the company had the know-how to continue to “win market challenges, boost cash-flow generation, cut debt and examine with care and speed the project for the creation of a single network.”
His predecessor had reportedly lost the support of Elliott-appointed directors wanting a greater focus on asset sales and above all a spinoff of TIM’s fixed-line networks into a separate company (NetCo). Genish supported the latter and was in talks to merge TIM’s network with that of wholesale rival Open Fiber but wanted TIM to control the merged entity. Unnamed sources cited by Reuters said Gubitosi’s current role at Alitalia would place him in the right position to negotiate with a government keen to prevent duplication of fibre networks.
