28714 members and growing – the largest networking group in the maritime industry!


Wednesday, November 20, 2019

Maritime Logistics Professional

Posted by March 13, 2015

Stefano Cao Tapped to be Saipem CEO

Former Eni manager Stefano Cao will be appointed chief executive of Italian oil service company Saipem to replace Umberto Vergine at a shareholder meeting in April, two sources close to the matter said.

"There's a consensus in the company and government on this position," one of the sources said.

Cao, who was executive chairman of Saipem until 2000, was a long-standing manager at state-controlled oil major Eni, which he left in 2008.

Eni, which owns 43 percent of Saipem, declined to comment.

The board of Saipem will be renewed at a shareholder meeting scheduled for April 30. (Reporting by Giuseppe Fonte and Giancarlo Navach

SaipemStefano CaoUmberto Vergine