Eni proposes CEO for Saipem

Eni has nominated Stefano Cao to head Saipem as its Chief Executive Officer. 

Eni holds 189,423,307 ordinary shares of Saipem, representing 42.924 % of all ordinary shares.

According to Eni, Stefano Cao is the candidate who possesses the specific professional skills for the appointment as CEO of the company.

Following Saipem’s Ordinary Shareholders’ Meeting, which convened on April 30, 2015 on a single call to decide on, among other things, the composition of Saipem’s Board, Eni’s Board of Directors yesterday (April 2, 2015) approved the proposal of the following candidates for appointment to Saipem’s Board of Directors: Paolo Andrea Colombo, Stefano Cao, Maria Elena Cappello, Francesco Antonio Ferrucci, Flavia Mazzarella and Stefano Siragusa.

The candidates list will be deposited at Saipem within the terms set by the law and by Saipem’s By-laws.

At Saipem’s Shareholders’ Meeting, Eni will also submit the following proposals to shareholders:

– to appoint Paolo Andrea Colombo as Chairman of the Board of Directors;

– to determine the gross annual remuneration payable to each Director at € 60,000, plus reimbursement of expenses incurred;

– to appoint Giulia De Martino as alternate Statutory Auditor.

In the press statement, Eni said: “Eni is grateful to the outgoing Directors for their excellent work, which they have done with professionalism and dedication in a particularly complex market environment. In particular, Eni wishes to express its thanks to Saipem’s Chairman Francesco Carbonetti for his contribution to safeguarding the interests of the company’s shareholders and Saipem’s CEO Umberto Vergine for strengthening the company, bringing it back to positive results.”

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