REFILE-UPDATE 1-Telecom Italia's top stakeholder proposes Eni head as chairman

miércoles 19 de marzo de 2014 14:38 GYT
 

(Adds dropped first name Tarak in penultimate paragraph)

* Shareholders to vote on new board on April 16

* Telco list includes 9 independent directors out of 13

* Chief Executive Marco Patuano remains on board

By Danilo Masoni

MILAN, March 19 (Reuters) - Telecom Italia's largest shareholder, Telco, has proposed as new non-executive chairman Giuseppe Recchi, currently the chairman of energy group Eni, in a list of mostly independent candidates for the new board.

Telecom Italia shareholders meet to vote on April 16 when the current board's three-year term expires.

In a break from the past when the Telco consortium led by Spain's Telefonica had the power to appoint a majority of Telecom Italia's directors, Telco on Wednesday proposed mostly independent candidates for the new board.

The move follows a campaign by minority investors led by 5 percent shareholder Marco Fossati to reduce Telco's influence in the boardroom after accusing management of not acting in the interests of minority shareholders.   Continuación...