Eni's shareholders' meeting approved the appointments of directors and statutory auditors, confirming Claudio Descalzi and Emma Marcegaglia at the helm of the Six-legged dog. As for compensation, according to the remuneration report, the Chief Executive Officer and General Manager Descalzi received a total of 2016 million in 3,779 (3,12 as fixed and variable compensation and 659 thousand euros in relation to the previous role of COO of the E&P Division for medium-term variable incentives).
On the compensation front, there are 3,56 million in long-term incentives still deferred. The vote of Eni's shareholders' meeting on the long-term incentive plan with the assignment of shares which saw 21% against. “It is not one of the best percentages, we believe there was some communication error”. Thus the president Marcegaglia replied, in the press conference after the meeting, to the journalists who asked her for a comment on the vote of the funds. “We are actually reintroducing an equity-based incentive after a few years and this has been asked of us by investors. Perhaps the three-year period and the three-year vesting (maturation period) have not been understood, perhaps this has not been clarified well” added Marcegaglia. Which, however, you added: “We are confident that by explaining the thing well, the vote at the next meeting can go up. For example, we see that some investors, such as the Norwegian sovereign wealth fund, are asking to extend the term to 5 even 10 years, the long term is a real issue". And she concluded: "We are not entirely satisfied, even if 78% voted in favor, we have proposed to speak with the funds in one-to-one meetings and raise the percentage at the next meeting".
