Displaying items by tag: General Manager
Italian telecommunications incumbent Telecom Italia has appointed a new general manager – in a move that sees its largest shareholder tighten its grip on the operator. Vivendi’s Amos Genish will now run the company’s day-to-day operations.
Vivendi has a 24% stake in Telecom Italia, and the new appointment comes just days after CEO Flavio Cattaneo departed the company after just sixteen months at the helm, following a number of clashes with the French shareholder.
The new general manager has enjoyed a decorated career, he was CCO at Vivendi, and he formerly headed the Brazilian subsidiary of Spanish operator Telefonica, and also founded GVT, a leading Brazilian mobile operator. Genish, a 57 year-old former Israeli captain will now oversee all of the company’s operations and will be based in Rome.
Cattaneo is the second CEO to leave Telecom Italia in less than just two years after he repeatedly locked horns with the French group which is led by billionaire Vincent Bollore. He has previously expressed an ambition to establish a southern European media powerhouse. Vivendi CEO, Arnaud de Puyfontaine who also acts as Telecom Italia’s executive chairman - will assume the responsibilities of CEO on a temporary basis.
In addition to this, it was also disclosed that further announcements on governance will be made in September. Analysts have claimed that many investment funds that have shares in Telecom Italia, remain unflustered by the latest leadership reshuffle, and are confident that Genish can reinvigorate the operator with a number of deals, which may include a possible sale of the Brazilian unit to a spin-off of the Italian fixed-line network.
De Puyfontaine has admitted that he plans to establish a joint-venture between Telecom Italia and Vivendi’s pay TV unit Canal+, which would play into the French company’s vision of expanding its content distribution across platforms. The Italian operator’s only asset abroad remains its Brazilian unit, and de Puyfontaine said it was doing a good job, but remained coy in relation to a potential sale.
The idea of TIM exiting Brazil has been gaining traction among investors since Vivendi became a top shareholder, because the French group sold its own Brazilian operations before investing in Italy.