1st Jul 2019 16:57
(Alliance News) - Telit Communications PLC on Monday said it has appointed Marco Patuano as a non-executive director following Adam Power's resignation.
Shares in Telit closed up 4.4% at 167.00 pence on Monday in London.
Power is moving to Australia where he will be taking up a new full-time executive role, the company explained, the terms of which prevent him from remaining on the Telit board.
Non-Executive Chair Simon Duffy said: "We are very sorry to see Adam depart. He has made a great contribution during his time on the board and we will miss his insights."
Duffy added that Patuano has a "distinguished" career in telecommunications, having become chief executive of Telecom Italia in 2011. From 2017 until earlier this year, he was CEO of Edizione, the holding company of the Benetton family.
Patuano said: "I am delighted to be joining Telit at this point in the business' development. The company is well-positioned in one of the most exciting and rapidly growing technology sectors."
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