Breaking News
Get 40% Off 0
👀 Reveal Warren Buffett's stock picks that are beating the S&P 500 by +174.3% Get 40% Off

Enel in red: Rumors arise of new leadership shake-up, group denies

Published May 31, 2023 19:24
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
ENEI
+0.15%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
TLIT
+2.12%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
ENI
+0.56%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SPMI
+8.36%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
EQT
-0.38%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Investing.com - Enel (BIT:ENEI) shares fell in Wednesday's trading, with the largest company by market capitalization in the Milan Stock Exchange again at the center of a possible board revolution.

According to some rumors reported by Bloomberg, CEO Flavio Cattaneo would be considering changing the group's CFO, a position held for more than ten years by Alberto De Paoli.

The first choice for the position is said to be Stefano De Angelis, while De Paoli is expected to remain in a senior management position.

"Enel informs that currently no decisions have been made concerning appointments or changes within the company's top management," the group's spokesperson said.

These rumors about the change of CFO, a crucial role for the company's financial decisions, come after a renewal of the board of directors that saw the entry of Cattaneo as CEO replacing Francesco Starace, now a partner in EQT (NYSE:EQT) Infrastructure, and Paolo Scaroni, formerly of Eni SpA (BIT:ENI) and Saipem (BIT:SPMI), as chairman.

Cattaneo, the former CEO of Telecom Italia (BIT:TLIT) and a Meloni government appointee, confirmed that the company will follow the guidelines of the strategic plan to 2025 approved by the old board of directors, which includes lowering operating costs through divestment of less strategic assets and investments of €11 billion (€1 = $1.0665).

Presented last November, the intent of the new plan is to reduce net debt by €60.1B with asset divestments of about €21B. It also pledged to pay investors a dividend of €0.43 per share in 2023 and keep it stable for the following two years.

(Translated from Italian)

Enel in red: Rumors arise of new leadership shake-up, group denies
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email