Fiat gives some details of Romiti's retirement

Article Abstract:

Fiat SpA said that Chairman Cesare Romiti's retirement package includes options to purchase Fiat's 18.8-percent stake in Gemina SpA as well as 5.5% in Holding di Partecipazioni SpA (HDP). Romiti, who is also rumored to be given around 180 billon lire in cash, could gain around 320 billion lire by exercising the options. Romiti will be retiring from the company as mandate when he reached 75 years old and will be replaced by Paolo Fresco, a vice chairman of General Electric of the US. The retiring executive, as expected, will become chairman of RCS Editori SpA, the publishing subsidiary of HDP.

Comment:

Chairman Cesare Romiti's retirement package includes options to purchase Fiat's 18.8-percent stake in Gemina & 5.5% in HDP

Automobiles, Automobile Manufacturing, Fiat S.p.A., Article

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Telecom Italia names Colaninno

Article Abstract:

Olivetti SpA has appointed Roberto Colaninno to become Telecom Italia SpA's chairman and chief executive officer. The appointment was made at Mr. Colaninno's first board of directors meeting after he headed Olivetti's acquisition of Telecom Italia, the fourth-ranked telecommunications group in Europe. Mr. Colaninno had recommended the merging of the posts that formerly belonged to Telecom Italia's CEO Franco Bernabe and to Chairman Berardino Libonati.

Comment:

Roberto Colaninno appointed by Olivetti as Telecom Italia's chairman and chief executive officer

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Olivetti names candidates for Telecom Italia board

Article Abstract:

Eight men were named by Olivetti SpA to become members of Telecom Italia SpA's board of directors. Olivetti's appointments precede Telecom Italia's stockholder meeting on June 28, 1999. This is also the date that Olivetti takes official control of Telecom Italia. Olivetti engaged in a three-month hostile takeover bid for Telecom Italia. Fifty-two percent of Telecom was acquired by Olivetti.

Comment:

Eight men named by Olivetti to become members of Telecom Italia's board of directors

Management

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