Eni proposes Cao as new Saipem CEO

Eni has proposed Stefano Cao to be Saipem’s new CEO, according to Reuters.

Eni owns 43% of Saipem, and its proposals for CEO and board members will be voted on at a Saipem shareholder meeting on April 30.

Cao was executive chairman of Saipem until 2000, and also served as a manager at Eni, ultimately becoming head of the core exploration and production.

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