Eni board approves new business structure
Eni's board of directors, chaired by Giuseppe Zafarana, has approved a new organisational structure aimed at supporting the company's strategic goals, with a particular focus on enhancing operational excellence and accelerating the energy transition, the company announced on September 12.
CEO Claudio Descalzi highlighted that this restructuring marks a “significant” evolution for Eni, designed to strengthen the company's operational performance, advance its decarbonisation efforts, and maximise value creation.
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The reorganisation will concentrate on several key priorities. One of the main goals is to unlock the value of satellite companies, such as Plenitude and Enilive, while continuing to operate in traditional sectors. Eni will also seek to optimise its operations by integrating its oil & gas business with midstream and trading activities, allowing the company to capture margins more effectively across the entire value chain.
Another significant aspect of the new strategy is the transformation of refining and chemical sectors into bio-based and circular platforms, alongside an expansion of environmental remediation activities into new market opportunities.
To implement these changes, Eni will restructure its business into three distinct areas, each led by a COO. Francesco Gattei will lead the newly established Chief Transition & Financial Officer Structure, responsible for overseeing financial strategy and focusing on maximising the market value of Plenitude and Enilive, with a view to supporting the company’s transition towards low-carbon solutions.
The second structure, Global Natural Resources, will be headed by Guido Brusco and will focus on Eni’s technical and operational projects, including initiatives related to carbon capture and storage (CCS), oil trading, and power generation.
The third structure, known as Industrial Transformation, will be led by Giuseppe Ricci and will focus on driving the restructuring of the chemical sector (Versalis) and continuing the transformation of traditional refining and environmental remediation activities into more sustainable operations.
In addition to their roles as COOs, both Gattei and Brusco have been appointed as general managers by the board. Eni’s technology department will continue to play a central role in the company’s innovation efforts, with a focus on research and development, digital transformation, artificial intelligence, and quantum technologies.