Eni Presents Shortlist for Saipem BoD

Italy’s Eni has presented its list for Saipem’s Board of Directors, explaining that Stefano Cao is the name put forward to lead the company. Eni holds a 43% stake in Saipem.

‘Stefano Cao is the candidate who possesses the specific professional skills for the appointment as CEO of the company’ reads a note released by Eni on Thursday. 

Paolo Andrea Colombo, Maria Elena Cappello, Francesco Antonio Ferrucci, Flavia Mazzarella and Stefano Siragusa are the other candidates for appointment to Saipem’s Board of Director. Eni proposed Paolo Andrea Colombo as the next Chairman of the Board of Directors.

Both Colombo and Cao held managerial positions in both Eni and Saipem. 

At the moment, Colombo is president of the GE Capital Interbanca, an italian merchant bank bought by US-headquartered GE Commercial Finance in 2008.

Saipem is a company focused on the Engineering & Construction and Drilling businesses, which is expected to build the offshore section of the Turkish Stream.  

Saipem’s Ordinary Shareholders’ Meeting will convene on 30 April to decide on the composition of the new Board.