BT's continental Europe chief quits amid Italy scandal fallout - report

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Sharecast News | 10 Feb, 2017

Telecoms giant BT Group's continental Europe chief, Corrado Sciolla, has resigned amid the fallout of an accounting scandal at its Italian business, a report says.

Sciolla was reported in late January to have variously stepped down or left the company.

He was now, having apparently formally resigned, said to be pursuing other professional opportunities, said news agency Bloomberg, citing an email from BT Group.

Sciolla's role would be taken on an interim basis by Luis Alvarez, the head of BT's global services division, the report said.

The departure followed BT's disclosure of an accounting scandal at its Italian unit last month, sparking a massive plunge in its share price.

Authorities in Milan were conducting a criminal investigation following the disclosure of a £530m writedown over the irregularities. The probe was not focused on any specific individual.

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