Italy’s Meloni Set to Hand Fifth Term to Eni’s Long-Serving CEO

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(Bloomberg) — Italy’s government is preparing to reconfirm Claudio Descalzi as chief executive officer of Italian state-backed energy firm Eni SpA, a move that would extend the term of one of Europe’s longest-serving oil chiefs and project continuity.

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The reappointment of Descalzi to a rare fifth three-year term is expected by spring, the people said, asking not to be named because the final decision hasn’t been made. 

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Prime Minister Giorgia Meloni is also likely to extend CEO mandates at other key Italian state-backed companies, including defense contractor Leonardo SpA, postal service Poste Italiane SpA and energy company Enel SpA, the people said. Talks over the appointments are ongoing and still in progress, the people added.

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Descalzi, 70, heads one of the world’s most influential energy companies. Eni is often referred to as Italy’s “other foreign ministry” given its impact across global regions, including with Italy’s oil-rich neighbors in the Mediterranean. 

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The Italian government declined to comment, while an Eni spokesman said the decision is up to its shareholders. Leonardo, whose CEO is Roberto Cingolani, Poste Italiane, led by Matteo Del Fante, and Enel, headed by Flavio Cattaneo, all declined to comment. 

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Meloni has made stability a signature feature of her government, and leadership continuity at important state-backed firms could help to further that impression. Elections are set to take place by late 2027. 

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Italy is the biggest shareholder of Eni, Leonardo and Enel, and owns a majority in Poste Italiane. All four companies registered stock-market gains in 2025, with defense contractor Leonardo nearly doubling.

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The CEO appointments are made every three years at companies in which Italy is a major shareholder. The last slate came through in 2023, months after Meloni became prime minister. 

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While rare, a fifth mandate for Eni’s Descalzi wouldn’t be unprecedented. Giuseppe Bono served five consecutive terms as CEO of Fincantieri Spa, leading the state-controlled shipbuilder for two decades. Bono died in 2022.

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Descalzi has led Eni since May 2014, making him the energy firm’s longest-serving chief executive. The company has a market value of €51.7 billion ($60.2 billion), making it among the most valuable in Italy.

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Oil and gas prices are under pressure. European gas has come down substantially from the energy crisis peak while Brent crude futures slumped 18% last year — amid widely held forecasts that the market was moving into a substantial surplus.

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Josu Jon Imaz became CEO of Spanish oil and gas company Repsol SA in April 2014, the month prior to Descalzi’s appointment at Eni.

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—With assistance from Priscila Azevedo Rocha.

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