Published by Global Banking & Finance Review®
Posted on April 21, 2026
2 min readLast updated: April 21, 2026
Add as preferred source on GoogleItaly’s PM Giorgia Meloni has told Terna CEO Giuseppina Di Foggia she must choose between claiming a €7.3 million severance from Terna or taking up the chairmanship of Eni, amid criticism of state‐backed executives receiving hefty payouts.
ROME, April 21 (Reuters) - Terna's outgoing CEO, Giuseppina Di Foggia, would have to give up her new role as Eni chair if she insists on claiming a 7.3 million euro ($8.58 million) severance pay from the power grid operator, Prime Minister Giorgia Meloni said.
Terna will hold an extraordinary board meeting in the next few days to discuss the cash claimed by Di Foggia, Reuters reported on Monday.
"I think Di Foggia has to choose between the presidency of Eni and the severance package from Terna. It seems to me that the matter is quite straightforward," Meloni told reporters in Milan.
The dispute is politically awkward for Meloni, whose government struggles to find ways to help families and firms cope with higher energy prices.
"I believe this is a decision to be made by Di Foggia. Obviously, we will consider our options consequently," Meloni added.
On Sunday, Italy's economy ministry said it was against state-backed groups paying severance cash to executives whose terms expire or who resign voluntarily.
A source familiar with the matter said Di Foggia's contract did not include a clause preventing her from receiving severance pay at the end of the mandate or in case of an early resignation.
The issue must be resolved before May 6, when Eni holds its shareholders' meeting.
Italy's Treasury owns a 29.85% stake in Terna through state lender CDP. The ministry and CDP also control Eni with a combined 33.1% shareholding.
($1 = 0.8503 euros)
(Reporting by Giuseppe Fonte, Editing by Louise Heavens)
Giuseppina Di Foggia is the outgoing CEO of Terna and has been appointed as the new chair of energy giant Eni.
Di Foggia must choose between claiming a €7.3 million severance from Terna or accepting the chair position at Eni, as stated by Italy's Prime Minister.
Prime Minister Giorgia Meloni intervened due to political sensitivity, given the government's struggle with energy prices and public ownership stakes in both Terna and Eni.
The issue must be resolved before May 6, when Eni holds its shareholders' meeting.
Italy's Treasury owns 29.85% of Terna and, together with CDP, controls 33.1% of Eni.
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