Rome - The shareholder assembly of the state-controlled
Italian oil giant ENI SpA on Thursday rejected the Italian
treasury’s directive to institute new integrity requirements for
top executives.
The measure would have meant dismissal or exclusion from
the board for any executives holding a lower court conviction on
company-related charges.
While a 59.45% majority of shareholders voted in favour of
the rule change, two-thirds are required to modify the company
charter.
Outgoing ENI Chief Executive Paolo Scaroni, who ceded his
post to his replacement Claudio Descalzi at the same assembly,
holds such a conviction.
A court in the northern city of Rovigo at the end of March
sentenced two former chief executives of Italian electricity
utility Enel, Franco Tato' and Paolo Scaroni, to three years in
prison over emissions from Enel's Porto Tolle power plant. The
pair were also banned from holding public office for five years.
Scaroni’s sentence was handed down as the end of his
three-year mandate as chief executive was coming up for review
by the Italian executive.
ENI is 30%-controlled by the Italian state.
ALL RIGHTS RESERVED © Copyright ANSA
