Saipem Names New CEO

Italian oil and gas and renewable industry services giant Saipem has appointed Francesco Caio as its new CEO.

Born in 1957, Caio has a degree in Electronic Engineering from the Politecnico di Milano and a Masters in Business Administration (MBA) from INSEAD Fontainebleau, France. He takes over from Stefano Cao who served as CEO of Saipem since 2015.

Caio, the new CEO, has served on the board of directors of multinational companies in the United States, England, France, and Italy for companies such as Equant, Motorola, Bocconi University, Gruppo Sole 24 Ore, Invensys plc, Alcatel Lucent, Confindustria, Politecnico di Milano and BNL SpA.

He has been an advisor to government initiatives in digital and broadband technologies.

From 2014 to 2017 he was Chief Executive Officer and General Manager of Poste Italiane.  In 2018 he was appointed Chairman of Saipem and in 2020 he was also appointed Chairman of the Board of ITA (Italy Air Transport).

The Shareholders’ meeting help April 30, set the number of Board Directors at nine and appointed the new Board of Directors for the years 2021, 2022 and 2023.

The new Board comprises: Silvia Merlo (President), Francesco Caio (CEO), Roberto Diacetti, Alessandra Ferone, Patrizia Michela Giangualano,
Pier Francesco Ragni, Marco Reggiani, Paul Simon Schapira, Paola Tagliavini.

Silvia Merlo, Francesco Caio, Alessandra Ferone, Pier Francesco Ragni, Marco Reggiani and Paola Tagliavini were drawn from the list put forward jointly by Eni S.p.A. and CDP Equity S.p.A. (whose combined holding amounts to 43.095%), which was voted by the majority Shareholders attending the meeting, Saipem said.
Roberto Diacetti, Patrizia Michela Giangualano and Paul Simon Schapira were drawn from the list put forward by Shareholders, representing 1.161% of Saipem’s ordinary share capital, which was voted by the minority shareholders attending the meeting.

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