Amos Genish set to be Vivendi’s managing Director

Flavio Cattaneo, Vivendi’s former MD, is set to leave the company earlier than planned.

Italian news daily La Repubblica has reported that one of the reasons Flavio Cattaneo, CEO of Telecom Italia, fell out with the top shareholder of Vivendi because the French company planned on appointing a managing director at his side.

As per sources familiar with the matter at hand, Cattaneo is expected to leave the company within a couple of days. Amos Genish, a Vivendi top executive, is set to replace him as managing director.

His remuneration will be set by an appointments committee, which is set to meet on Monday, to discuss “a proposal to end the relationship (with Cattaneo) by mutual consent”.

La Repubblica has reported that Cattaneo’s is likely to receive less than $34.98 million (30 million euros) for leaving ahead of the time.

“The severance package I will get is not a scandal,” said the paper.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s