Stefano Cao Tapped to be Saipem CEO

March 13, 2015

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

Logistics News

Bunge Charters Argentine Soy Meal Cargo to China

Bunge Charters Argentine Soy Meal Cargo to China

NYK-TDG Maritime Academy Celebrates 80 Graduates

NYK-TDG Maritime Academy Celebrates 80 Graduates

Israel Attacks Three Yemen Ports

Israel Attacks Three Yemen Ports

Gladstone Ports Welcomes New CEO

Gladstone Ports Welcomes New CEO

Subscribe for Maritime Logistics Professional E‑News

A man was killed in Texas after a shooting at a US Border Patrol station
Qantas Australia says it has made cyber criminal contacts a week after a data breach.
The rupee is a little higher, but the US tariffs are keeping traders cautious.