Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 155

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 6
Chunk 155
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ITEM 6.        DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES
The Board of Directors
The direction and management of Telecom Argentina is vested in the Board of Directors and its executive officers. Telecom Argentina’s bylaws were amended at the Ordinary and Extraordinary Shareholders’ Meeting held on August 31, 2017, providing for a Board of Directors consisting of (i) no fewer than eleven and no more than seventeen directors and (ii) the same or a lesser number of alternate members. This amendment was recorded with the IGJ on August 30, 2018.
Due to the resignation of director Eduardo de Pedro and alternate director Juan Santiago Fraschina effective December 7, 2023, from December 7, 2023, until April 25, 2024, Telecom Argentina had ten directors and ten alternate directors. From April 25, 2024, until the date of this Annual Report, Telecom Argentina has eleven directors and eleven alternate directors. As of April 25, 2024, three of the directors and two of the alternate directors qualify as independent directors under SEC regulations and four of the directors and three of the alternate directors also qualify as independent directors under CNV rules. According to Telecom Argentina’s bylaws, the Board of Directors has all the required authority to manage the corporation, including authority for which the law requires special powers. The Board of Directors operates when there is a quorum of the absolute majority of its members and resolves issues by simple majority of votes present, provided that in respect of certain matters (the “Supermajority Matters”) the favorable vote of at least one Director proposed for designation by the Class A and one Director proposed for designation by the Class D is required to pass a resolution. According to Telecom Argentina’s bylaws, the chairman of the Board of Directors (the “Chairman”) has a double vote in the case of a tie, except in respect of Supermajority Matters. Under CNV regulation, in order to be independent, a director must neither be employed by, nor affiliated with, Telecom Argentina, CVH or FTL. Directors and alternate directors are normally elected at Annual Ordinary Shareholders’ Meetings (as defined below) and serve a renewable three-year term. The term of the current directors expires on December 31, 2026. None of Telecom Argentina’s directors have services contracts with Telecom Argentina (or any subsidiary) providing for benefits upon termination of employment as a director.
On January 31, 2018, the Board of