Proxy advisers urge Telecom Italia investors to hand CEO another term [Reuters]
VIVENDI SE UNSP/ADR (VIVHY)
NASDAQ:AMEX Investor Relations:
vivendi.com/en/investment-analysts
Company Research
Source: Reuters
new tab back the proposal by the company's outgoing board to give CEO Pietro Labriola another term. In reports issued on Monday by Institutional Shareholder Services (ISS) and Glass Lewis ahead of an April 23 general meeting, the two proxy advisers urged shareholders to support the slate of board nominees put forward by the outgoing board. Glass Lewis and ISS also recommended backing the outgoing board's proposal to reduce the directors to nine from 15. The vote on the board renewal comes at a crunch phase for the ailing former phone monopoly, which is seeking a revamp centred on the sale of its domestic fixed-line access to U.S. fund KKR (KKR.N) , opens new tab The reappointment of Labriola has been challenged by minority shareholder Merlyn Partners, which proposed an alternative slate of candidates, including former TIM deputy general manager Stefano Siragusa as CEO. The proxy adviser reports are a boost for Labriola, who has come under pressure following a record stock pl
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