The company says Labriola was appointed with the support of the Nomination and Remuneration Committee and will step down from his role as director and CEO of TIM’s Brazilian subsidiary TIM S.A.
Labriola was appointed as general manager of TIM on November 26 last year, and will take on the role of its new CEO following the departure of Luigi Gubitosi.
Salvatore Rossi, chairman of TIM said: “The Board and I are deeply satisfied with Pietro Labriola’s appointment as TIM’s CEO.
“With his expertise and drive for delivering results, Pietro is the right choice to lead TIM’s next phase of development, while enhancing the key role our Group plays in Italy’s economic, digital and social growth.”
The move comes as it was revealed last week that TIM is planning a last-ditch revamp amid growing pressure following KKR’s $12.28 billion proposal to take over the company.
The plan set out by Labriola will be examined by the board on March 2 and will provide a benchmark for TIM to evaluate KKR’s approach even further.
Following confirmation of his appointment, Labriola said: My goal is to drive the Group to realise its full potential and maximise the value of our assets in the interest of all our shareholders.
“The challenges and opportunities ahead will require cohesion among all stakeholders.
“I am thankful for the trust the Board has placed in me to lead the Company forward. I also want to thank our Brazilian colleagues for the brilliant results we have delivered together and our Italian colleagues for what we shall do.”
