Time.news – Luigi Gubitosi resigned from Tim’s board. A note from the group confirms this.
An amount (severance) of approximately € 6.9 million (subject to claw back by Tim), to be paid by January 3, 2022, goes to the former CEO as “recognition”.
Gubitosi resigned “after reaching an agreement with the company that provides for the reciprocal waiver of all claims in relation to the employment relationship
employee “. The former CEO also” waived any claim against the company in relation to the management relationship. “
The agreement that led to the “recognition” of approximately € 6.9 million “is in compliance with Tim’s Remuneration Policy and was unanimously approved by the Board of Directors, subject to the favorable opinion of the Nomination and Remuneration Committee”.
In six years, 4 CEOs and 41 million in bonuses
Marco Patuano, Flavio Cattaneo, Amos Genish, Luigi Gubitosi: the four managers share the fact that they were CEOs of Tim’s last era, a rather short era to tell the truth: from the farewell of Patuano (the man who he had spent his entire life in the country’s first telecommunications company) just over 5 and a half years have passed since Gubitosi left.
Patuano resigned, after almost 5 years in office, on 21 March 2016; Cattaneo, on the other hand, remained in office from March 30, 2016 to July 21, 2017. The Israeli Genish took office on September 28, 2017 to be disheartened at dawn on November 13, 2018 by his own board of directors, who met ad hoc on an extraordinary basis, replaced after a little less than a week (it was November 18) by Gubitosi, who remained in office for almost 3 years.
Summing up, four CEOs in just under 2 thousand days (1,882 to be precise), for a cost that for the company has already broken through 40 million (40.9 million euros), including the severance pay of Patuano ( 6 million), that record of Cattaneo (25 million), the consideration that Genish received (almost 3 million) and the 6.9 million that will go to Gubitosi.
.