ITALY-Emilio Gnutti, who was convicted of insider trading last year for exchanging privileged information in 1999 about transactions linked to publicly traded industrial holding company CMI, has been named chief executive of the private holding company that controls Telecom Italia SpA.
Gnutti was sentenced to eight months in prison and fined $110,000, but is free while appealing. If the conviction is upheld, however, Gnutti will be forced to leave his posts on boards of Telecom Italia and its affiliated companies.
