Franco Bernabè has resigned from his position as chairman of Telecom Italia.
In a statement, the company says its board of directors, chaired by its deputy chairman, Aldo Minucci, has started the search for a new chairman.
In the meantime, Marco Patuano, the MD and CEO, will temporarily take on the powers and orgnaisational responsibilities previously assigned to Bernabè.
Minucci will remain in charge of the board until a new chairman is elected.
Reports say that Bernabè left the company after clashing with shareholders, headed by Telefónica, over its strategy, and in particular his attempts to raise capital.
Bernabè headed Telecom Italia for nearly six years.
