The twist of theEnel – with Flavio Cattaneo new CEO and Paul Scaroni to the presidency – is the big surprise of the last hour in the great division of seats that came out of the package of nominated of the Government. Appointments which, as always, require two interpretations: one political and the other corporate.
Appointments: Meloni wins but does not win hands down and on Enel suffers the counterattack of the allies
On the political level Melons wins but does not win hands down at all and on the very armchairs of Enel, the largest company in the Italian stock exchange with a capitalization of over 60 billion euros, it suffers the hungry counterattack of the League of Salvini need Forza Italy who, from the very first moment, had demanded for Cattaneo the attribution of the top management of a leading company and they obtained it. Meloni wins over everything else: confirms Matteo Renzi's appointments at the head of theEni and Poste Italiane with Claudio Descalzi on one side and Matteo Del Fante on the other and renews Terna's top management, moving the faithful Donnarumma to the helm of Cdp Venture Capital, and rewarding the former minister Roberto Cingolani at the head of Leonardo.
Appointments: the bets of Enel, Terna and Leonardo
On a corporate level, however, the matter is different and the Meloni edition appointments close with two confirmations and three bets on which the stock exchange will give its first judgment today. Is Descalzi to Eni, whom some consider the shadow foreign minister due to his knowledge in the Middle East and North Africa, which Of the infantryman at the Post Office they are two absolute managerial guarantees and the balance sheet of their previous management is there to confirm it. The renewal of Enel, Leonardo and Terna is instead a bet that goes beyond the personal competence of the chosen managers.
Flavio Cattaneo has a long curriculum having already been at the top of large groups such as Telecom Italia, Rai, Terna and others where he has demonstrated undoubted management ability. However, Enel is a very complex group and Cattaneo will have to give his best to cut the many debts without losing his vision and without weakening the electricity group's ability to be a major player in the energy transition. Francesco Gaetano Caltagirone will be very happy with his appointment, who wanted him on the list, then loser, which in Generali was opposed to that of Mediobanca and the CEO Philippe Donnet.
On Terna, where Meloni has kept his promise to entrust the position of company head to a woman for the first time, the bet is double because the new CEO, Giuseppina of Foggia, whose appointment will be formalized today by Cdp, comes from another world – being the number one of Nokia Italy – and has no experience in the energy field in his curriculum. However, Terna is a bit like Autostrade: just manage with balance and the boat goes.
Finally Leonardo, where the ongoing trial for the MPS case has displaced the outgoing CEO Alessandro Profumo and where the former minister Roberto arrives crawlers, who was hired a few years ago in the defense and aerospace group by Profumo. Cingolani's technical competence is unquestionable and his appointment guarantees continuity but management skills will have to be demonstrated on the field.
