TIM board update on industrial plan progress; appoint new CFO
The Board of Directors (“Board”) of TIM met on 14 February under the chairmanship of Salvatore Rossi for an update on the progress of the industrial plan.
During the meeting Pietro Labriola, Chief Executive Officer and General Manager of TIM, presented the plan under review, identifying specific economic and development models for the following markets in which the Group operates, such as: Large customers (PA and Big Corporate), Consumers (SME, households and individuals), Network infrastructure, and Brazil.
The Board was updated with specific regard to the main growth area of the Group:
- Large customers: area in which Cloud, IoT and Cybersecurity services represent a driver for the Country’s digitalization supported by the NRRP;
- Brazil: high-growth area that will strongly benefit of the synergies deriving from the acquisition of Oi’s mobile assets, the launch of 5G and a strategy of continuous enhancement of the customer base through dedicated partnerships, such as those in banking and entertainment.
In general, the plan will identify for each business activity the model that ensures its development in terms of innovation, profitability, and value creation.
Furthermore, the Board acknowledged that the CEO is continuing to explore possible strategic options, including solutions that go beyond vertical integration, as announced on 26 January.
Adrian Calaza will join the Group reporting directly to the Chief Executive Officer and General Manager, Pietro Labriola, as of 1 March 2022, taking over from Giovanni Ronca as Chief Financial Officer (CFO). He will also assume the role of Executive responsible for preparing the corporate accounting documents of TIM, once the work linked to the Company’s 2021 financial statements is complete.
Calaza brings over twenty years of experience within the TIM Group, where he previously held the position of CFO in Entel Bolivia, Telecom Argentina and lastly TIM Brasil. He has extensive knowledge of the telecommunications sector and specifically of the TIM Group, as well as solid experience gained in complex businesses, with specific regard in managing extraordinary operations.
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