24 de julio de 2017 / 18:59 / hace 2 meses

BRIEF-Telecom Italia to pay CEO Cattaneo 25 mln euros to step down as CEO on July 28

July 24 (Reuters) - Telecom Italia says in a statement on Monday:

* board agrees by majority vote a settlement deal to end the mandate of Flavio Cattaneo as Chief Executive Officer

* Cattaneo to step down as CEO on July 28 and as general manager as of July 31

* Cattaneo to receive 22.9 million euros gross by way of settlement payment, plus 2.1 million euros gross relating to non-competition, non-solicitation and non-poaching covenants for one year as regards the main competitors of the company in Italy and Brazil

* company has started the process of finding a successor to Cattaneo, board will further discuss the matter on July 27

* Cattaneo currently owns 1.5 million Telecom Italia shares

* will start a second phase of company turnaround pursuing the targets set by Cattaneo, and especially the fibre optic rollout plan Further company coverage: (Reporting by Milan newsroom)

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