Francesco Caio, former leader of the Italian Post Office and currently consultant for the networks of the Minister of Economic Development Carlo Calenda, will be the new president of Saipem, the oil plant engineering company controlled by ENI and Cassa depositi e prestiti (Cdp). Stefano Cao will instead be confirmed at the helm of Saipem, despite some remarks on the financial statements of the past few years recently advanced by Consob to his management.
This is what the top management of Eni and CDP decided on Thursday 5 April in view of the Saipem assembly on 3 May to which the nominations for the new board, made up of six members, will be submitted, including those of Caio at the presidency and Cao in the role of CEO. But the games are practically done because Eni holds 30,5% of Saipem and Cassa depositi e prestiti 12,5%.
In short, a bit of renewal and a bit of continuity for Saipem. On Friday, the Stock Exchange will evaluate the proposed solution.
