Telecom Italia SpA Chief Executive Officer Luigi Gubitosi resigned on Friday, less than a week after private equity firm KKR & Co. made a preliminary 10.8 billion-euro ($12.2 billion) bid for the former Italian phone monopoly.
The company’s directors, meeting Friday evening, accepted the CEO’s offer to step down, according to a statement. Gubitosi remains a member of the board. Bloomberg News was first to report on his imminent departure from the role.
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November 26, 2021 at 11:29PM
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Telecom Italia CEO Gubitosi Resigns Amid KKR Offer - Bloomberg
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