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Public companies, how much managers earn

Despite the ceiling of 240 euros per year set by the Renzi government, the particular responsibilities exercised at the top of some large public companies allow top managers to achieve much higher compensation - How much did Descalzi, Starace, Moretti, Caio, Campo earn in 2015 dall'Orto and others

I'm at the head of large companies that still have a public owner: large state-owned companies including big ones like Enel, Eni and Finmeccanica. And for the responsibilities they have, they can even receive six-figure salaries. And some of them are the last lucky ones in terms of remuneration, closely followed by a series of directors of companies with a public majority who, not appearing in the stock exchange list or having not issued bonds, have remained stuck in the trap of rules established by Renzi which set, in 2014, the maximum salary perceptible to those who drive them at just 240 thousand euros. Here is the picture of how much public managers actually earned in 2015 and, in some cases, how much they should earn this year, by consulting the balance sheet data and those which, due to the law on transparency, are available to the public. Obviously, the richest are the managing directors of large companies such as Enel (the CEO Starace collected 2,72 million last year).

At Eni, on the other hand, the CEO Claudio Descalzi he took home between fixed and variable 2,43 million, while Mauro Moretti head of Finmeccanica (now Leonardo) went 1,67 million. Following in the ranking is the CEO of Poste Italiane, Francesco Caio who, in the year of the listing, added a variable remuneration for a total of 1,44 million euros to the fixed part. Roberta Neri, appointed CEO of Enav to oversee the landing at Piazza Affari, also added a transaction bonus equal to 410% of the fixed remuneration of 75 thousand euros, divided into two equal tranches, the first to be assigned upon listing (concluded at the end of July) and the second to the approval of the 2016 financial statements. Events that would bring his salaries well above 500 thousand euros.

Among the wealthiest executives in Italy should also be mentioned the director general of Rai, Antonio Campo dall'Orto, who this year will have a gross salary of 650 thousand euros. In this case, the possibility of exceeding the ceiling of 240 thousand euros is linked to the fact that the public television company has issued bonds. Giuseppe Bono, CEO of Fincantieri, listed in 2014, should also be included in the list of the lucky ones with a fixed salary of 735 euros to which must be added another 450 euros of productivity incentives relating to 2014. In total, therefore, 1,185 million EUR.

An annual check of 607 thousand euros is instead the fixed remuneration for the office and powers of Fabio Gallia (managing director of Cassa Depositi e Prestiti). An amount to which approximately 215 thousand euros should be added in the budget in the form of variable remuneration.

All the others are below the fateful threshold of 240 thousand euros. With some annoyance. Dominic Arcuri, CEO of Invitalia, has repeatedly asked the Treasury to be able to issue bonds but so far his requests have not been granted and his annual compensation remains below the ceiling of 240 thousand euros.

Of note among the curiosities is Vieri Ceriani appointed CEO of Sose, a company that deals with sector studies, and who carries out the task free of charge. And the CEO of Ferrovie, Renato Mazzoncini, whose salary cannot be traced either on the balance sheet or on the website.

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