November 13, 2018 / 12:09 PM / a month ago

Ousted CEO Genish vows to remain on Telecom Italia board

Nov 13 (Reuters) - The ousted chief executive of Italy’s biggest phone group, Telecom Italia (TIM), described his sacking on Tuesday as a Soviet-style putsch and vowed to remain on the board as a director to defend the rights of shareholders.

Amos Genish, speaking a few hours after the board stripped him of his executive powers, told Reuters that the environment inside TIM was dysfunctional and that several directors had been campaigning against him for months.

Genish was appointed last year to run the underperforming former monopoly by TIM’s then controlling shareholder, French media group Vivendi, but since then directors backed by activist fund Elliott have wrested control of the board.

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