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General

Telecom Italia says CEO to depart with EUR 6 mln pay-off

Tuesday 22 March 2016 | 09:44 CET | News
Telecom Italia said its board of directors accepted the resignation of chief executive Marco Patuano, who will leave the company with immediate effect. Patuano will receive severance payments totaling EUR 6 million, the company said in a statement. No reason was given for the departure, but according to media reports Patuano has clashed with major shareholder Vivendi on strategy, notably over the future of the company's Brazilian activities. 

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Categories: General
Companies: Telecom Italia
Countries: Italy
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