A number of Vivendi-linked executives quit Telecom Italia, as rival investor Elliott Advisors describes the move as a “cynical” attempt to delay its own attempts to shake up the board.
Telecom Italia. Image: GoneWithTheWind / Shutterstock.com
A slew of board members have quit Telecom Italia, including executive chairman and Vivendi CEO Arnaud de Puyfontaine (pictured), in what is seen as an attempt to block activist investor Elliott Advisors from making changes at the company.
The eight board members, who are affiliated to top investor Vivendi, will leave their posts with effect from 24 April 2018, with 4 May set as the date for which a renewal of the board will be voted on.
“In resigning, the aforementioned directors have exp
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