The Board of Directors of Telecom Italia met today, chaired by Giuseppe Recchi, after the additions to its composition resolved by the Company Shareholders’ Meeting of 15 December 2015.
The Board of Directors ascertained the absence of grounds of ineligibility with respect to the newly appointed Directors Arnaud Roy de Puyfontaine, Stéphane Roussel, Hervé Philippe and Félicité Herzog, also ascertaining that the latter meets the independence requirements set forth in the Borsa Italiana Code. At present, pursuant to said Code, Davide Benello, Lucia Calvosa, Flavio Cattaneo, Laura Cioli, Francesca Cornelli, Giorgina Gallo, Félicité Herzog, Denise Kingsmill, Luca Marzotto and Giorgio Valerio qualify as Independent Directors; these Directors declared that they meet the requirements of independence pursuant to the Consolidated Finance Law, which is also true for Director Jean Paul Fitoussi.
With reference to the General Meeting not having approved the proposal to authorize the newly appointed Directors to continue the activities indicated in their respective curricula vitae releasing them from the non-competition obligation, the Board started the analysis, as appropriate.
The curricula vitae of the new Directors are available on the Company website at
www.telecomitalia.com/tit/en/about-us/corporate-bodies/board-of-directors/composition.html
None of them have holdings in shares issued by the Company.
The Board of Directors has also started to examine the 2016-2018 Business Plan, which is expected to be finalized in February 2016, with the subsequent disclosure of the guidance objectives to the financial community.
Finally, the Board finalized the calendar for the meetings to approve the financial reports for 2016, which is as follows:
- 11 February – Board of Directors meeting to approve the preliminary data
- 17 March - Board of Directors meeting to approve the draft financial statements for the year and the consolidated financial reports at 31 December 2015
- 5 May - Board of Directors meeting to approve the interim report on operations at 31 March 2016
- 25 May - Shareholders' Meeting to approve the financial statements at 31 December 2015
- 2 August - Board of Directors meeting to approve the half-year financial report for 2016
- 10 November - Board of Directors meeting to approve the interim report on operations at 30 September 2016
Any changes to the above dates will be communicated without delay.
The conference calls to present the accounting data to the financial community will normally be held after the Board of Directors meeting for their approval.
Milan, 16 December 2015
