The controlling investors of Telecom Italia have nominated a new chairman and a new CEO to lead the telco, and their choices will be up for board of directors approval later this week. The nominations committee of Mediobanca SpA, one of the four Italian financial firms that teamed with Spain telco Telefonica to buy a 24% controlling stake in Telecom Italia's holding company, has nominated former Mediobanca chairman Gabriele Galateri as chairman of Telecom Italia and Franco Bernabe, who headed Telecom Italia briefly years ago, as the new CEO. The investment deal, by the way, gives Telefonica a direct 10% stake in the Italian ILEC.
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