MILAN, April 24 (Reuters) - Telecom Italia (TIM) CEO Amos Genish was backed by nearly all shareholders present at a general meeting on Tuesday, just days before a showdown over board seats between the Italian phone group’s top two investors.
Genish was co-opted by the board last September following the resignation of his predecessor, but his appointment as board director had to be approved by shareholders for him to continue on the board and as CEO beyond the AGM. Genish’s appointment is valid until May 4 when a whole new board will be voted on.
Despite being a close ally of top shareholder Vivendi , Genish is well respected by all, including activist fund Elliot, given his track record as a telecoms veteran and dealmaker in Brazil. Nearly 98 percent of those present voted for Genish on Tuesday.
Reporting by Agnieszka Flak