The return of Stefano Cao to the helm of Saipem as the new managing director closes the Scaroni era at Eni. Cao, who began his professional career at Saipem (Eni's subsidiary for oil plant engineering), had left ENI's powerful Exploration and Production division precisely due to conflicts with the then CEO of the parent company Paolo Scaroni.
Descalzi, who has always had excellent relations with Cao, wanted with this appointment to mark the discontinuity with respect to the past.
Cao's task, which in Saipem will be supported by the new president Andrea Colombo (former president of Enel), will not be easy. Cao will have to restore impetus and above all transparency and profitability to Saipme in view of its future sale which is on stand-by for now but which will certainly become topical again at the right time.
