Proxy advisor Glass Lewis has recommended that Telecom Italia investors vote in favor of Giuseppe Recchi as chairman of the board when shareholders meet on April 16, it said in a document seen by Reuters. Telecom Italias largest investor Telco said earlier this month it had proposed Recchi as chairman of Italys largest phone group. Recchi is a former executive at General Electric and is currently chairman of Italian state-owned oil group Eni. Telco is owned by Spains Telefonica, Italian insurer Generali and two banks, Intesa Sanpaolo and Mediobanca, and owns 22.4 percent of Telecom Italia.
Comments are closed.
