Telecom Italia to hold board meeting on Jan. 21 to appoint new CEO – source

Telecom Italia (MI:TLIT) (TIM) chairman Salvatore Rossi has called a board meeting on Jan.21 to appoint a new chief executive at Italy’s biggest phone group, a source with knowledge of the matter said on Tuesday.

The move comes after a group of five directors, including representatives of TIM’s top investor Vivendi (PA:VIV), called on to speed up the nomination process to give the phone group a new leadership.

Pietro Labriola, who was appointed Telecom Italia’s general manager in November, is seen as the favourite for the role, several sources said.

The CEO seat at TIM, a former state phone monopoly, has been vacant since late last year after former head Luigi Gubitosi stepped down under pressure from investors after a string of profit warnings.