Italy Nears Leader Decisions at State Firms Worth €250 Billion

ubnr13wwfr92ev25np75{9og_media_dl_1.png BloombergArticle content(Bloomberg) — Italy’s government is nearing decisions on who will lead major state-backed companies worth about €250 billion ($287 billion), with shakeups expected at some of the firms. Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe list of companies with board chairs and chief executive officers whose terms are set to expire by May include energy and defense groups Eni SpA, Enel SpA and Leonardo SpA. Changes are under consideration for Leonardo, Bloomberg reported on Saturday.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe government of Prime Minister Giorgia Meloni is set to confirm Claudio Descalzi for another term as CEO of Eni, the oil-and-gas company that plays an outsize role in Italian foreign relations, as well as Matteo Del Fante at state-controlled Poste Italiane SpA, people familiar with the matter said. Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentDecisions on other CEO roles remain under discussion and haven’t been finalized, the people added, asking not to be named before deliberations are concluded. Article contentThe choices will offer insight into Meloni’s priorities for strategic sectors, and play a key role in shaping the 49-year-old premier’s economic agenda as she seeks a second term. The stakes have risen with a war in the Middle East that’s jolted energy prices and put pressure on defense companies to meet rising needs in Europe.Article contentMeloni’s government is due to announce the choices at six major state-backed firms as soon as this week, capping weeks of negotiations within her ruling coalition, people familiar with the matter said. Article contentThe premier is leaning toward changes, with the board chairs at all six companies potentially being replaced, the people said. Talks are ongoing regarding these roles, they said.Article contentArticle contentThe companies include Enel, Eni, Leonardo, Poste, grid operator Terna SpA and air traffic control Enav SpA. Article contentA spokesperson for the government declined to comment, as did representatives at energy utility Enel, Leonardo, Poste, Terna and Enav. Eni declined to comment “on decisions that are up to our shareholders.”Article contentPolitical ResetArticle contentThe leadership changes under consideration would add to a broader political reset by Meloni after a bruising defeat last week in a referendum on judicial reform. Article contentThe loss has weighed on Meloni’s Brothers of Italy party in opinion polls, while adding a new dimension to talks on the executive appointments with Matteo Salvini’s League and Antonio Tajani’s Forza Italia.Article contentState entities own large stakes in a number of Italian companies. Government nominees ultimately require shareholder approval. Article contentThe government has called for a confidence vote this week on an energy package which has already been approved by the cabinet, in a bid to reinforce her grip on power. Article contentA general election will take place in Italy before the end of 2027, so the new executives or ones whose three-year contracts are renewed will remain in place under Italy’s next government.Article content—With assistance from Flavia Rotondi, Daniele Lepido, Alessandra Migliaccio and Donato Paolo Mancini.Article contentTrending Posthaste: Gold's fall from grace could be worse than markets expect News Air Canada CEO to retire following English-only video controversy Airlines S&P 500 correction nears end stage, say Morgan Stanley strategists PMN Business Subscriber only. Chinese are burying their dead in vacant apartments rather than pay skyrocketing cemetery costs Subscriber only Financial Times Oil rises to US$117 as Iran war escalates with Houthi attacks on Israel PMN Business Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Posthaste: Gold's fall from grace could be worse than markets expect News Air Canada CEO to retire following English-only video controversy Airlines S&P 500 correction nears end stage, say Morgan Stanley strategists PMN Business Subscriber only. Chinese are burying their dead in vacant apartments rather than pay skyrocketing cemetery costs Subscriber only Financial Times Oil rises to US$117 as Iran war escalates with Houthi attacks on Israel PMN Business