Saipem Overhauls Management in a Bid to Fix Business, Finances
- Company appoints Eni’s Alessandro Puliti as general manager
- Saipem has two months before $573 million of bonds come due
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Saipem SpA appointed new executives and overhauled its management organization in a bid to restructure its business and finances after a surprise profit warning.
Cassa Depositi e Prestiti SpA, which together with oil major Eni SpA controls Saipem, pushed the company to name new executives that will work side-by-side with Chief Executive Officer Francesco Caio.