Paolo Scaroni | |||||||||
|---|---|---|---|---|---|---|---|---|---|
 | |||||||||
| Born | Paolo Scaroni 28 November 1946 Vicenza, Italy | ||||||||
| Alma mater | |||||||||
| Occupation | Businessman | ||||||||
| Board member of |
| ||||||||
Paolo Scaroni (born 28 November 1946) is an Italian businessman and banker, currently the chairman of Enel and A.C. Milan. Between 2002 and 2014 he has been chief executive officer of Italian energy companies Enel and Eni. [1] [2]
In 1969, Scaroni graduated from Bocconi University of Milan in the field of economics. In 1973, he obtained an MBA from Columbia Business School. [1]
In 1969, Scaroni joined Chevron Corporation for three years. After obtaining MBA, Scaroni was an associate at McKinsey & Company. In 1973, he joined Saint-Gobain, where he held different positions, culminating with his appointment as president of flat glass division. In 1985, he was appointed CEO of Techint. In 1996, he moved to the United Kingdom to become chief executive officer of Pilkington. [1] [3]
From May 2002 to May 2005, he served as CEO of Enel, Italy's leading electricity company. [1] At Enel, Scaroni made a real breakthrough by abandoning the traditional multi-utility corporate model, supported by his predecessor Franco Tatò, in favour of placing greater focus on the core energy business. Under his mandate, Enel created a separate wind energy unit and, for the first time, Enel was included in the Dow Jones Sustainability Index. [4] In 2005, he was appointed CEO of ENI, the Italian multinational energy company, considered one of the seven world supermajors. In his nine years at ENI, Scaroni reduced the weight of oil in favour of natural gas, seen as an intermediate transition combustible in the path toward even more sustainable sources. [5] In 2012, Eni was included in the Carbon Performance Leadership Index, which scores companies based on their commitment to transparency and environmental leadership. [6] During Scaroni's tenure, ENI's net worth increased from €39 billion to €61 billion. He left his role in 2014. [5]
On 21 July 2018, he became chair (Italian : presidente) of A.C. Milan, after the club was taken over by Elliott Management Corporation. He was one of the eight directors of the club after the takeover by Li Yonghong. [7] In June 2020, Li accused Scaroni of having a conflict of interest in the club's management. Among other issues, Li cited Scaroni's position as deputy chairman of Rothschild Italia (which advised on the acquisition of the club), as well as his prior business relationship with Elliott. [8] Scaroni won the Scudetto Serie A in 2021–2022 as President of A.C. Milan on 22 May 2022, and was confirmed in his position as chairman in September 2022, following the acquisition of Milan by US fund RedBird. [9]
In addition to his executive management position, Scaroni, has or has had numerous non-executive roles, amongst which:
Paolo Scaroni has never taken political positions supporting one particular party or coalition, and is considered as having excellent relationship and supporters across the political spectrum.
When questioned on energy transition and sustainability he has often stressed that renewable energy sources alone won't be sufficient to achieve the ambitious CO2 reduction goals that Europe has set. According to Scaroni such goals can only be met if, in addition to the use of renewables, a strong emphasis is put on energy efficiency measures and a pervasive reengineering of industrial processes. He also is an advocate of the use of nuclear energy as a way to reduce CO2. [14]
In 2004, Scaroni was decorated as Cavaliere del Lavoro. In November 2007 Scaroni was decorated as a member of the Légion d'honneur. [1] [3]
In his career Paolo Scaroni has been involved in a few judicial proceedings. As part of the massive "Tangentopoli" scandal that brought down Italy's post-war political parties, in 1996, Scaroni was sentenced to one year and four months in prison (below the limit of execution of the sentence), and the offence was finally declared extinct by Milan tribunal in 2001. [15]
Subsequently, in his roles as CEO of ENEL and ENI, he was involved in three judicial investigations (ENEL Porto Tolle, ENI/Saipem Algeria, ENI/Shell Nigeria) but, on those, he was definitively acquainted in 2017, 2020, and 2022 respectively. [16] [17] [18]
Mani pulite was a nationwide judicial investigation into political corruption in Italy held in the early 1990s, resulting in the demise of the First Italian Republic and the disappearance of many political parties. Some politicians and industry leaders committed suicide after their crimes were exposed. Antonio Di Pietro was the main judicial figure in charge of the investigation. In some accounts, as many as 5,000 public figures fell under suspicion. At one point, more than half of the members of the Italian Parliament were under indictment, while more than 400 city and town councils were dissolved because of corruption charges. The estimated value of bribes paid annually in the 1980s by Italian and foreign companies bidding for large government contracts reached US$4 billion.
Bocconi University or Università Bocconi is a private university in Milan and Rome, Italy. The university is consistently ranked as the best in Italy in its fields and among the best in the world.
Eni S.p.A., acronym for and formerly legally known as Ente nazionale idrocarburi, is an Italian multinational energy company headquartered in Rome. It is considered one of the "supermajor" oil companies in the world, with a market capitalization of €50 billion, as of 31 December 2023. The Italian government owns a 30.5% golden share in the company, 1.99% held through the Ministry of Economy and Finance and 28.5% through the Cassa Depositi e Prestiti. The company is a component of the Euro Stoxx 50 stock market index.
Enel S.p.A. is an Italian multinational manufacturer and distributor of electricity and gas. Enel was first established as a public body at the end of 1962, and then transformed into a limited company in 1992. In 1999, following the liberalisation of the electricity market in Italy, Enel was privatised. The Italian state, through the Ministry of Economy and Finance, is the main shareholder, with 23.6% of the share capital as of 1 April 2016.
Saipem S.p.A. is an Italian multinational oilfield services company and one of the largest in the world. Until 2016 it was a subsidiary of Italian oil and gas supermajor Eni, which retains approximately 30% of Saipem's shares.
Andrea Illy is an Italian businessman. He is the Chairman of illycaffè S.p.A., a family coffee business founded in Trieste in 1933. He has additionally been Chairman of Altagamma since 2013.
Chicco Testa is an Italian politician. Born in Bergamo, he graduated in philosophy at the Università Statale in Milan (1976). He lives in Rome and has two sons.
Paolo Rocca is an Argentine-Italian businessman, CEO of the Techint Group, which owns Tenaris, Ternium and other companies in the engineering, construction and energy sectors. He is also chairman and CEO of Tenaris, and chairman of Ternium. As of July 2024, Forbes estimated his net worth at US$5.0 billion.
Flavio Cattaneo is an Italian manager, non-executive vice president of Italo - Nuovo Trasporto Viaggiatori, the first private company operating high-speed trains in Europe, and member of the board of Assicurazioni Generali. He is CEO and General Manager of Enel and vice chair of Endesa.
Paolo Andrea Colombo is an Italian business executive. In May 2011, he was appointed president of Enel alongside CEO Fulvio Conti. He is deputy chairman of Intesa Sanpaolo.
Luigi Roth is an Italian business executive.
Fabio Gallia was an Italian banker, manager and businessman.
Francesco Starace is an Italian business executive, from 2014 to 2023 he was CEO and general manager of Enel Group.
Maria Patrizia Grieco is an Italian corporate executive. She was the chairman of Enel (2014-20), the director of Anima Holding and CNH Industrial, and a board member of Save the Children.
Umberto Vergine is an Italian businessman. He was appointed chief executive officer of Saipem on 5 December 2012.
Stefano Siragusa, is an Italian executive. He was deputy general manager of TIM.
Giulio Gallazzi is an Italian businessman. He is the Chairman/CEO of SRI Group, a multinational independent M&A corporate finance consultancy and proprietary Private Equity investments company founded in 2001.
Claudio Descalzi is an Italian businessman, and the CEO of Italian oil company Eni since May 2014.
Marco Alverà is an Italian businessman and Co-founder and CEO of TES since June 2022.
Roberto Pontremoli is an Italian insurance executive. From 1993 to 1999, he was CEO of the Istituto Nazionale delle Assicurazioni (INA), and in 1994, founded the Rotary International club of Milan.