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Fastweb appoints CEO to deter administrators
Italian broadband operator Fastweb has appointed the chief executive of its parent company Swisscom, Carsten Schloter, as its temporary CEO, avoiding being placed into administration in the process.
Fastweb’s CEO Stefano Parisi volunteered to be…
Italian broadband operator Fastweb has appointed the chief executive of its parent company Swisscom, Carsten Schloter, as its temporary CEO, avoiding being placed into administration in the process.
Fastweb’s CEO Stefano Parisi volunteered to be suspended from the role last week, while an ongoing probe into an alleged E2bn tax fraud goes on.
Also last week Silvio Scaglia, Fastweb’s founder, resigned from the company’s board of directors, despite refuting claims that he was involved in any wrongdoing.
Along with Telecom Italia subsidiary Sparkle, Fastweb executives are accused of knowingly enabling a money laundering ring to carry out fabricated transactions between 2003 and 2006.
The companies themselves argue that they were in fact victims of the fraud and continue to fight the allegations.
The temporary appointment of Schloter has at least kept at bay the threat of administration and a suspension of business.
