New Telecom Italia Chief Presses Stability To Employees

• Luigi Gubitosi, the Elliott Management-backed director who’s become CEO at Telecom Italia (NYSE:TI), is emphasizing stability after a year marked by a pitched battle for the company between Elliott and top shareholder Vivendi (OTCPK:VIVHY).
• “My goal is to give back Telecom Italia the stability that has been missing since time,” he tells employees in a memo seen by Bloomberg.
• “What we have in front of us is a complex but exciting challenge that will require strengthening the business, improving financial performance and making relations with stakeholders more fluid,” he continues.
• Gubitosi was selected to take over after the ouster of Vivendi-favored Amos Genish, and he’s likely to move the company toward steps to separate its fixed network from the rest of the company, a move Vivendi opposed.
• Previously: Ex-CEO of Telecom Italia blasts Singer as ‘raider’ (Nov. 21 2018)
• Previously: Telecom Italia +3.8% after CEO choice suggests new direction(Nov. 19 2018)
• Previously: Report: Elliott directors lead in Telecom Italia CEO hunt (Nov. 16 2018)
• Previously: TI favors single network; discussing teaming with Vodafone on 5G (Nov. 12 2018)

– Seeking Alpha