Finance
Italian government poised to back new mandate for Eni CEO, sources say
Published by Global Banking and Finance Review
Posted on January 14, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on January 14, 2026
MILAN, Jan 14 (Reuters) - Italy's Prime Minister Giorgia Meloni is poised to back Eni CEO Claudio Descalzi for a new three-year term at the energy group, three sources close to the matter said, paving the way for the top executive to extend his reign as the company's longest-serving head.
Descalzi, 70, has been Eni chief executive since 2014, having built a career in the group as an upstream and exploration expert with a deep knowledge of Africa.
The executive is available to serve for another term, one of the sources said.
Meloni's administration, which controls the group with a total stake of nearly 32%, will call the shots at Eni's shareholder meeting in early May, when investors are due to vote for the appointment of the management team.
"These are decisions that are up to our shareholders, and therefore we do not comment on them," a spokesman for Eni said.
The prime minister's office was not available to comment.
Italian media and Bloomberg newswire have also reported that the government is preparing to reconfirm Descalzi at the helm of the energy group.
After helping Rome to replace Russian gas supplies in reaction to Moscow's invasion of Ukraine, Descalzi has masterminded the creation of low-carbon divisions at the oil and gas group and supervised the opening up of these ventures to infrastructure funds and investment companies.
This move has allowed Eni to share the financial effort needed to develop biofuel venture Enilive, retail and renewable unit Plenitude and Eni's carbon capture business with deep-pocketed global partners.
These include U.S. investment firm KKR, Swiss asset manager Energy Infrastructure Partners, Ares Management and BlackRock's infrastructure fund GIP.
One of the challenges for the 52-billion euro group and its top management in the next three years will be to support growth at its new units and make sure that returns promised to the investment partners are delivered, analysts said.
(Reporting by Francesca LandiniEditing by Keith Weir)
Eni is an Italian multinational oil and gas company, known for its operations in the energy sector, including exploration, production, and distribution.
A CEO, or Chief Executive Officer, is the highest-ranking executive in a company, responsible for making major corporate decisions and managing overall operations.
Sustainability in business refers to conducting operations in a manner that is environmentally responsible, socially equitable, and economically viable over the long term.
Investment strategies are plans or methods used by investors to allocate resources in order to achieve specific financial goals.
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