Olivetti last week disbanded its executive committee in a move which has been interpreted as a return to normality for the troubled information technology group.
The committee was set up in September in to liaise between the board and management following Carlo De Benedetti's departure and subsequent replacement as chairman by Antonio Tesone.
De Benedetti had been blamed for misleading investors over Olivetti's financial position and was rumoured to have clashed over company strategy with Francesco Caio, chief executive at the time.
De Benedetti's son, Rodolfo, was one of the five committee members.
The committee's removal means that for the first time, there is no member of the De Benedetti family in an executive position.
Despite this, De Benedetti is still the largest shareholder in Olivetti, with a 15% holding.
According to company officials, the committee is no longer needed as the company is now out of its crisis situation: "We were in a phase of transition which is now completed. We are now back to business normality," a spokesman said.
However, it has been suggested that the committee's removal puts Roberto Colannino, Olivetti's newly appointed chief executive, and his board in a much stronger position of control and may mean that he intends to take a direct role in decision making.
Separately last week, Olivetti released figures for its debt at the end of October. The net debt grew to 3.028 trillion lire (#1.17 billion), 12 billion lire higher than at the end of September. Olivetti has been releasing monthly debt figures since September, when Consob, the Italian stock market regulator, started an investigation into the company's balance sheets.
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