Published by Global Banking & Finance Review®
Posted on July 18, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GooglePiergiorgio Peluso is set to return as CFO of Telecom Italia, succeeding Adrian Calaza amid recent ownership changes.
MILAN (Reuters) -Piergiorgio Peluso, Chief Financial Officer of motorway operator Autostrade per l’Italia, is set to take over the top finance job at Telecom Italia (TIM), two sources told Reuters on Friday.
Peluso, 57, previously served as TIM's CFO for seven years until 2019. He will rejoin the former phone monopoly next month, the people said.
Spokespeople for TIM and Autostrade per l’Italia declined to comment.
TIM had been searching in recent months for a successor to current CFO Adrian Calaza, as he is expected to leave the company later this year, sources previously told Reuters.
Calaza, an Argentine national and former CFO of TIM's Brazilian unit, took on the job of group finance chief in 2022.
He oversaw last year's landmark sale of TIM's fixed-line network to a consortium led by U.S. investment firm KKR, a deal aimed at slashing the company's debt by 14 billion euros ($16.32 billion).
Peluso's return to TIM is expected to be announced on August 5, when TIM’s board meets to approve first-half results. He will assume the CFO role at a later date, one of the sources added.
In May, TIM returned to state-backed hands, with financial conglomerate Poste Italiane replacing France’s Vivendi as the company’s largest shareholder, with a 24.8% stake.
($1 = 0.8580 euros)
(Reporting by Elvira Pollina, editing by Alvise Armellini and Elaine Hardcastle)
Piergiorgio Peluso is the Chief Financial Officer of Autostrade per l’Italia and previously served as the CFO of Telecom Italia for seven years until 2019.
Telecom Italia is searching for a successor to current CFO Adrian Calaza, who is expected to leave the company later this year.
Adrian Calaza oversaw the landmark sale of TIM's fixed-line network to a consortium led by KKR, aimed at reducing the company's debt by 14 billion euros.
Peluso's return to Telecom Italia is expected to be announced on August 5, with him assuming the CFO role at a later date.
Financial conglomerate Poste Italiane replaced France’s Vivendi as the largest shareholder of Telecom Italia, acquiring a 24.8% stake.
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