Telecom Italia does not plan an extraordinary meeting of the board of directors to oust the CEO

MILAN (Reuters) – Telecom Italia said it was not expected to hold an extraordinary council meeting next week, said a spokeswoman for the phone group. According to a report, some directors were asking for one to ask for the resignation of General Manager Amos Genish.

Genish, a telecom veteran close to TIM's largest shareholder, Vivendi, was named to the helm of the largest Italian phone group last year and was confirmed after a reshuffle of the board in May.

Since the beginning of this year, he has been caught in a battle between the main shareholder Vivendi and the activist fund Elliott, which finally took control of the board of directors of the French group at a meeting of shareholders in May.

Genish's position was put to the test because of increased competition within the country and the increasingly fierce war between the two major investors.

According to an article in the daily Il Messaggero Sunday, some directors appointed by Elliott request an extraordinary meeting of the council this week to request the dismissal of Genish.

"The next board meeting has already been convened for December 6 and no call for an extraordinary meeting has been scheduled before," the TIM spokesman told Reuters in a text message.

Genish is looking to execute a three-year plan launched in March to turn the group into digital and to rebuild its finances.

A spokesman for Vivendi said Sunday that the French media group fully backed Genish and his business plan.

The French shareholder also said that Elliott was only looking for a "scapegoat" for all the unfulfilled promises promised during the state 's monopoly of the old phone.

When asked if Vivendi would convene a shareholders' meeting to request a further reshuffle of the board of directors, the spokesman only reiterated that Vivendi "would do anything to protect its interests" without giving any notice. details.

Elliott declined to comment on the Il Messaggero report and Vivendi's accusations. The hedge fund has in the past urged Vivendi to seek constructive solutions at the board level.