Telecom Italia CEO Marco Patuano To Resign: Reports

(RTTNews) - Telecom Italia SpA Chief Execuitive Officer Marco Patuano is reportedly set to resign after a two-and-a-half-year stint at the helm of Italy's biggest telephone company.

Patuano'd decision to step down came after he had disagreements with the company's board and Vivendi, its largest shareholder.

According to reports, Patuano is negotiating an exit package and is expected to resign at a board meeting on Tuesday.

Chairman Giuseppe Recchi is set to take over Patuano's role for an interim basis until a successor is appointed.

In March, French media and music giant Vivendi had said it raised its stake in Telecom Italia to just below 25 percent.