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Proxy adviser Glass Lewis backs Recchi as chairman of Telecom Italia

01
Apr
2014

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.

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