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Telecom Italia: board chairman Fulvio Conti resigns

( - Fulvio Conti has stepped down as board chairman and director of Telecom Italia as of the end of a meeting held yesterday, the Italian phone company said.

In a statement, Fulvi Conti mentioned that he believes his mandate has been completed, in light of the board's recent stability and renewed focus on creation of sustainable value for shareholders.

The battle between the group's two main shareholders - French media giant Vivendi and US hedge fund Elliott - has recently receded.

A board meeting has been convened for 21 October to deliberate on his replacement, TIM said.

Conti was formerly the CEO of Italian electricity group Enel from 2005 to 2014.

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