Eni Approves New Business Structure

By Nina Kienle

Eni said its board of directors approved a new business structure that would further strengthen the value of its subsidiaries and group strategy.

The oil-and-gas producer company said it was reorganizing its business activities into three structures, each to be led by a chief operating officer who will report to the chief executive.

The new Chief Transition and Financial Officer structure will be headed by COO and CFO Francesco Gattei, who will be responsible for developing and implementing the company's economic and financial strategy. Plenitude and Enilive will report to this structure, Eni said.

The Natural Resources structure will be renamed Global Natural Resources, headed by COO Guido Brusco to oversee the technical, operational and engineering capabilities. The structure will be integrated with the Power Generation and Marketing business, as well as the oil trading activities, it said.

Gattei and Brusco are also appointed general managers, it said.

The new Industrial Transformation structure, led by COO Giuseppe Ricci, will focus on the restructuring and industrial transformation of Versalis, Eni said.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

September 12, 2024 08:51 ET (12:51 GMT)

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