Telecom Italia picks Patuano as CEO
MILAN Oct 3 (Reuters) - Telecom Italia has temporarily assigned to its chief operating officer Marco Patuano all the powers as chief executive held by Franco Bernabe who resigned as executive chairman at a board meeting on Thursday, the company said.
Deputy Chairman Aldo Minucci will become chairman on a temporary basis, the company said in a statement on Thursday, adding it had started to look for a new permanent chairman.
Telecom Italia also said it had approved a severance package of 3.7 million euros ($5.04 million) for Bernabe who will also receive a extra 2.9 million euros as part of a 12-month non-competition agreement. The total cost is 6.6 million euros.
Telecom Italia also named Angelo Provasoli, chairman of RCS MediaGroup, as board member. ($1 = 0.7340 euros) (Reporting by Danilo Masoni; editing by Francesca Landini)