Eni has appointed Guido Brusco to be its new director general of natural resources, replacing Alessandro Puliti.
Brusco has been Eni’s upstream director since 2020. Before that, the new director general was in charge of Eni’s work in sub-Saharan Africa.
Saipem announced today that it had approved Puliti to act as the company’s new general manager. He will come in to support Saipem CEO Francesco Caio.
Brusco’s first day in the new Eni job will be on February 7, while Puliti starts at Saipem the same day.
Saipem said its board had approved a new organisation. This is intended to reinforce its execution capacity and complete the ongoing strategic review.
The new structure involves a new general manager function. This new role will have responsibility for legal and contract management.
In addition, Saipem will also create a specific unit to work on financial planning.
Saipem said its deputy general manager, Paolo Calcagnini, would join its management team and report to the new general manager. Calcagnini will have responsibility for the new financial planning unit.
Eni expressed thanks to Puliti for his “excellent contribution over the recent years in developing traditional energy sources in the context of emissions reduction and progressive decarbonisation, which are fundamental levers of Eni’s energy transition strategy”.
Saipem issued a surprise profit warning at the beginning of the week. Eni and Cassa Depositi e Prestiti (CDP), which together own 43% in Saipem, are working on a review of options.
Calcagnini is CDP’s chief business officer.
Saipem may need to take on more capital to shore up its balance sheet. Reuters has reported a potential tie up with Maire Tecnimont may be on the cards.