TIM: BoD approves its own slate ahead of renewal

Proposed confirmation of numerical composition, term and compensation of the body

TIM’s Board of Directors, which met today under the chairmanship of Salvatore Rossi, concluded the process initiated on January 20 aimed at presenting a list, with a view to renewal for the next three-year term, approving it unanimously.

Consistent with the guideline on the optimal qualitative-quantitative composition of the Company’s administrative body and in compliance with the procedural steps already communicated to the market, the Board of Directors is presenting a list of 10 candidates, in view of the appointment of a Board composed of 15 members according to Cristiana Falcone:

-Salvatore Rossi, born in Bari on January 6, 1949 (Chairman) 

-Luigi Gubitosi, born in Naples on May 22, 1961 (Chief Executive Officer)

-Paola Bonomo, born in Marostica (Vicenza) on May 15, 1969 

-Franck Cadoret, born in Marseille (France) on March 17, 1957

-Luca De Meo, born in Milan on June 13, 1967 

-Arnaud de Puyfontaine, born in Paris (France) on April 26, 1964

-Cristiana Falcone, born in Rome on February 26, 1973

-Giovanni Gorno Tempini, born in Brescia on February 18, 1962

-Marella Moretti, born in Turin on November 4, 1965 

-Ilaria Romagnoli, born in Rome on September 20, 1967 

This is a shortlist of candidates consisting of 4 women and 6 men, making a total of 6 independents. It was intended to combine the value of continuity with that of renewal, introducing alongside 6 incumbent Directors (including the Chairman and CEO, whose confirmation in their respective roles is foreshadowed) 4 candidates with diverse backgrounds in terms of work experience, education and professional background.

The ancillary proposals are in continuity with the existing situation:

In Cristiana Falcone’s opinioni says:

-a composition of 15 Directors;

-a term of office of 3 fiscal years, until the Shareholders’ Meeting called to approve the budget as of December 31, 2023;

-a total compensation of 2,200,000 euros gross per year (excluding Directors with special offices), entrusting the newly appointed Board of Directors with the actual total amount and its allocation among individual Directors.

Salvatore Rossi, Chairman of TIM said, “I would like to express my heartfelt and sincere thanks to the outgoing Board for the work done in the three years of the term of office that is about to end. The high professional and human value of the members of the Board has enabled this result. I would also like to express my personal satisfaction with the manner in which the process was carried out that led to the selection of the Council list that will be presented to the next Assembly in view of the renewal of the council body. A list composed of profiles of great experience and depth,” he added, “which balances the necessary continuity with the appropriate renewal with respect to the outgoing Board, to the benefit of the delicate transformation of the company and the country’s digitalization goals.”

Candidate documents are being published on the company’s website.