After the rumors of recent days, the Ministry of Economy and Finance has announced the appointments of the top management of the public subsidiaries. In some cases expectations were respected, while for others we could speak of “surprises”. However, all in line with the aim of guaranteeing continuity and at the same time relaunching the large industrial groups controlled by the State.
With the filing of the lists of the Boards of Directors of Enel, Enav, Eni and Leonardo, the government has made a first decisive move in view of the shareholders’ meetings in May, which will have to ratify the new company boards.
The confirmations: Descalzi and Cattaneo for Eni and Enel
Let’s start with the confirmations. For the energy giants Eni and Enel, the Treasury has fully embraced the line of continuity by confirming Claudio Descalzi and Flavio Cattaneo as their respective leaders. The executive’s decision was largely dictated by the need for proven guidance in a context of great geopolitical tensions with significant repercussions on the energy sector.
This is Descalzi’s fifth term at the top of Eni, who has been joined as president of the group by Terna’s CEO, Giuseppina Di Foggia. As far as Enel is concerned, the managerial tandem has instead been confirmed as a whole, with president Paolo Scaroni who will collaborate with CEO Cattaneo.
Everything changes at Leonardo’s top management, Mariani and Macrì arrive
The most important news concerns Leonardo, a key company for defense and aerospace. The Mef, which holds a 30.2% share of the group, has proposed a complete change of top management, advancing the appointment of Lorenzo Mariani as the new CEO in place of Roberto Cingolani. At his side, as president of the subsidiary, will be Francesco Macrì.
This is a very significant change that comes in a delicate phase for the group, engaged in an expansion linked to the growth of global military spending and the rearmament imparted by the United States to all European countries. Mariani, a manager with profound experience in the defense sector, represents in this sense a choice oriented towards industrial continuity, but with a change of approach compared to the previous management.
The new CEO has in fact worked for years in Leonardo itself (formerly Finmeccanica) and MBDA. Since June 2023 he has been co-general manager of the group, after having held key roles as CEO of Mbda Italia and international commercial roles.
The redesign of Leonardo’s Board of Directors will be completed with the inclusion, among others, of Elena Vasco, Enrica Giorgetti, Rosalba Veltri, Trifone Altieri, Cristina Manara and Francesco Soro.
De Biasio and Pappalardo at the helm of Enav
Enav is obviously also included in the MEF’s round of appointments, another strategic piece of the investee system. At the helm of the group that manages civil air traffic in Italy, the Treasury, the majority shareholder with 53.28% of the shares, has indicated Sandro Pappalardo as president and Igor de Biasio as the new CEO.
The new board will be completed by Stella Mele, Stefano Arcifa, Antonella Ballone and Cristina Vismara. The choice signals a change in governance in a company that is certainly less exposed to the media than Eni or Leonardo, but crucial for infrastructure, mobility and control of national airspace.
How MEF appointments work in investee companies
From a technical and formal point of view, the appointment mechanism follows precise rules. The Ministry of Economy, as a public shareholder, presents the lists for the Boards of Directors of listed companies. The lists are then voted on in shareholder meetings.
The process generally takes place in bulk and with tight deadlines, precisely to maintain an overall balance between the different companies and the various institutional components.
