ROME, March 28 (Reuters) - Telecom Italia Chief Executive Flavio Cattaneo said on Tuesday he would be happy if Giuseppe Recchi stayed on as chairman, following media reports suggesting Recchi’s mandate may not be renewed when it expires in May.
Cattaneo added that former Ferrari boss Luca Cordero di Montezemolo, who according to some reports could replace Recchi, had already denied that he was a candidate for the post.
Shareholders will vote on a new board in May and lists with proposed candidates have to be submitted by April 9.
The market is watching to see whether French media group Vivendi, the phone group’s top investor, will use the board renewal to replace Recchi and boost Cattaneo’s role by stripping the future chairman of the executive powers currently held by Recchi. (Reporting by Alberto Sisto, writing by Agnieszka Flak)