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Telecom Italia names new chairman

Telecom Italia SpA on Oct. 21 appointed Salvatore Rossi its new board chairman.

Rossi will also be an independent director on the Italian telecom operator's board. He was senior deputy governor of the Bank of Italy and president of the Italian Institute for Insurance Supervision, among other previous roles.

Earlier reports said Rossi was the front-runner to become Telecom Italia's new chairman, ahead of former Italian antitrust chief Antonio Catricala.

Rossi will take over the role vacated by Fulvio Conti, who stepped down in late September. His departure reportedly signaled that the battle for influence between Telecom Italia's biggest shareholders, activist hedge fund Elliott Advisors (UK) Ltd. and French media group Vivendi SA, may be nearing an end.