Prime Minister Giorgia Meloni has confirmed the extension of Claudio Descalzi’s tenure as CEO of Eni, Italy’s largest energy company, marking his fifth consecutive term in the role. The move underscores confidence in his leadership during a pivotal phase of Europe’s energy transformation.
- Claudio Descalzi reappointed to a fifth term as CEO of Eni, effective January 2026.
- Eni reported €4.3 billion in net profit for 2024, a 12% year-on-year increase.
- €3.1 billion invested in renewable energy projects between 2021 and 2024.
- Renewables now represent 27% of Eni’s total energy output.
- Eni’s share price rose 2.4% on the Milan Stock Exchange after the announcement.
- Three new board appointments to the supervisory board, including a former ministry official.
Claudio Descalzi, CEO of Eni since 2014, is set to serve a fifth term following formal approval by the Italian government under Prime Minister Giorgia Meloni. The decision, announced on January 14, 2026, reflects sustained political and institutional trust in Descalzi’s management of Italy’s national champion in the energy sector. His reappointment comes amid heightened geopolitical volatility and the EU’s accelerated decarbonization targets. Eni reported a net profit of €4.3 billion in 2024, a 12% increase from the prior year, driven by strong performance in natural gas and renewable energy segments. The company has invested €3.1 billion in renewable projects over the past three years, including offshore wind farms across the Adriatic and solar initiatives in North Africa. Descalzi has positioned Eni as a key player in the transition to low-carbon energy, with renewables now accounting for 27% of the group’s total energy output. The extension of Descalzi’s leadership is expected to reinforce stability in Italy’s energy supply chain, particularly as the country prepares for increased LNG imports and regional grid integration. Eni’s strategic focus on carbon capture and hydrogen production—where it holds over 15 pilot projects across Europe and the Mediterranean—is likely to intensify under his continued oversight. The move also signals the government’s intent to maintain a strong domestic energy player amid growing foreign competition in the sector. Market reactions were positive, with Eni’s share price rising 2.4% on the Milan Stock Exchange following the announcement. Investors viewed the decision as a vote of confidence in long-term operational continuity and strategic direction. The confirmation also impacts Eni’s board structure, with three new appointments to the supervisory board, including a former minister from the Ministry of Economic Development.