Advertisement
Singapore markets closed

  • Straits Times Index

    3,415.51
    +47.61 (+1.41%)
     

  • S&P 500

    5,509.01
    +33.92 (+0.62%)
     

  • Dow

    39,331.85
    +162.33 (+0.41%)
     

  • Nasdaq

    18,028.76
    +149.46 (+0.84%)
     

  • Bitcoin USD

    60,065.90
    -2,486.18 (-3.97%)
     

  • CMC Crypto 200

    1,297.17
    -37.75 (-2.83%)
     

  • FTSE 100

    8,167.08
    +45.88 (+0.56%)
     

  • Gold

    2,355.30
    +21.90 (+0.94%)
     

  • Crude Oil

    82.75
    -0.06 (-0.07%)
     

  • 10-Yr Bond

    4.4360
    -0.0430 (-0.96%)
     

  • Nikkei

    40,580.76
    +506.07 (+1.26%)
     

  • Hang Seng

    17,978.57
    +209.43 (+1.18%)
     

  • FTSE Bursa Malaysia

    1,615.32
    +17.36 (+1.09%)
     

  • Jakarta Composite Index

    7,196.75
    +71.61 (+1.01%)
     

  • PSE Index

    6,450.03
    +91.07 (+1.43%)
     

Italy's INWIT elevates CFO Galli to general manager role

Reuters
·1-min read
FILE PHOTO: The logo of INWIT is seen outside their offices in Rome

MILAN (Reuters) - INWIT on Friday promoted chief financial officer Diego Galli to the role of general manager as part of a new governance setup following the sale of most of Telecom Italia's stake in Italy's top telecom towers firm.

Earlier this year Telecom Italia (TIM) agreed to sell a 12.4% indirect stake in Milan-listed INWIT to French investment firm Ardian, which became the company's second largest investor behind Vodafone.

The deal triggered a far-reaching board reshuffle and the resignation of chief executive officer Giovanni Ferigo.

Under an initial plan, Ferigo would have been replaced by a new CEO identified by Vodafone.

ADVERTISEMENT

But all candidates approached during a search process failed to reach an agreement on taking the job, sources familiar with the matter said, indicating non-compete clauses among other hurdles.

A former Vodafone executive, Galli has been INWIT's head of finance since 2020.

(Reporting by Elvira Pollina; Editing by Keith Weir)