Monday, 15 August 2022

Rumoured departure of TIM’s network chief could hamper restructure

by Harry Baldock, Total Telecom
Monday 01 August 22

Stefano Siragusa, TIM’s head of network, operations, and wholesale, is reportedly set to resign due to clashing about the company’s new strategic direction

Today, anonymous sources have told the media that TIM’s head of network operations could soon leave the company, potentially jeopardising new CEO Pietro Labriola’s plans to restructure the business.  At the start of this year, however, Pietro Labriola, previous head of TIM Brasil, was announced as the new Group CEO…

Today, anonymous sources have told the media that TIM’s head of network operations could soon leave the company, potentially jeopardising new CEO Pietro Labriola’s plans to restructure the business. 

At the start of this year, however, Pietro Labriola, previous head of TIM Brasil, was announced as the new Group CEO, following the departure of Luigi Gubitosi. Labriola quickly formulated a major strategic shift, aiming to monetise the company’s assets by splitting it into two separate units: enterprise and network. 

This new strategic direction, according to sources, has subsequently caused a rift between Labriola and Siragusa, with the latter rumoured to be looking to resign as early as next week. 

Stefano Siragusa had joined the company as Chief Infrastructure Officer back in 2018 and has since filled a variety of positions within the company, including Chief Operating Officer, Chief Revenue Officer, and Chief Wholesale, Infrastructure, Network and Systems Officer.

Following the publication of these reports, TIM has issued an official press release noting that no official announcement on the matter has yet been made and that “allusions about exits dictated by disagreements with the company's strategic line” were untrue. It also reiterated the company’s dedication to the restructure.

 If Siragusa does resign, the move will present yet another setback to Labriola’s restructure plans, with the CEO already complaining last month that the division of the business was taking longer than expected. 

The news comes amid an already tumultuous period for TIM and for Italy at large, with the collapse of Prime Minister Mario Drahi’s government earlier this month making the future of the single national network uncertain.

TIM is also currently in the process of making major job cuts via early retirement schemes, with the latest round set to remove 2,200 jobs by 2024. The scheme comes as part of a wider strategy under Labriola to generate cost-savings of €1 billion in the same time period.

 

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