Telecom Italia (TIM) said on Monday former UniCredit executive Giovanni Ronca will become its new chief financial officer from June 17.
Ronca will replace Piergiorgio Peluso, who will move to a new role focusing on the group’s strategic projects and special operations.
These include the possible creation of a single broadband network with rival Open Fiber and the merger of Vodafone’s tower infrastructure with that of INWIT, the masts group 60-percent owned by Telecom Italia.
The change of CFO was decided by Telecom Italia’s Chief Executive Luigi Gubitosi, a source with knowledge of the situation said.
Gubitosi, who became CEO of the Italian phone group in November, aims to revive the former monopoly, saddled with 25 billion euros of debt.―Reuters