MILAN (Reuters) – Telecom Italia (TIM) has picked former Brazilian unit govt Adrian Calaza as its new chief monetary officer, reuniting him with new CEO Pietro Labriola, two sources near the matter stated on Monday.
A former chief monetary officer at TIM’s Brazilian subsidiary, Calaza will take over the brand new function from present Telecom Italia CFO Giovanni Ronca beginning March 1, the sources stated, including an announcement is predicted later within the day.
Labriola additionally labored for the Brazilian subsidiary.
Telecom Italia (TIM) administrators are assembly on Monday to debate a plan to reorganise Italy’s greatest telecoms group as Labriola tries to forge a substitute for a takeover method by U.S. fund KKR.
Debt-laden TIM was pressured to subject three revenue warnings final 12 months, partly as a consequence of a lower-than-expected income contribution from a take care of DAZN to point out soccer matches in Italy and stiffer competitors in its home enterprise.
Ronca will log off Telecom Italia 2021 full-year annual outcomes earlier than leaving the group, the sources added.
(Reporting by Elvira Pollina; Modifying by Keith Weir)