December 2, 2022

Bobbys Brane

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Vivendi representative Frank Cadoret resigns from Telecom Italia’s board By Reuters

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© Reuters. FILE PHOTO: Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration

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ROME (Reuters) – Telecom Italia (BIT:) (TIM) said on Wednesday that Frank Cadoret, one of two board members representing top investor Vivendi (OTC:), resigned from the post.

TIM did not give reasons for Cadoret’s exit, but, through Chairman Salvatore Rossi, thanked him “for his contribution to the company over the years.”

Vivendi has clashed with Rossi, a former Bank of Italy official, over corporate governance issues on a number of occasions.

Vivendi declined to comment.

The other Vivendi representative on TIM’s board is the French media conglomerate’s chief executive, Arnaud de Puyfontaine.

Earlier on Wednesday, two people familiar with the matter said TIM could call a board meeting on Nov. 30 to find a replacement for former board member Luca de Meo, who left in September.