Italian oil group ENI's Chief Executive Claudio Descalzi could step down if...
FILE PHOTO: Claudio Descalzi, CEO of Italian energy company Eni talks to media in Nicosia, Cyprus, April 25, 2018. REUTERS/Yiannis Kourtoglou/File Photo
MILAN - Italian oil group ENI’s Chief Executive Claudio Descalzi could step down if he is found guilty by an Italian court of corruption in Nigeria, he told the Wall Street Journal. Descalzi is one of the defendants in a case over the alleged payment of bribes to facilitate a $1.3 billion oil deal for Nigeria’s OPL 245 offshore oilfield in 2011.
In a long interview published on the Wall Street Journal website on Saturday, Descalzi denied taking part in any illegal activity and said his work at ENI, where he rose through the ranks over the course of 39 years, was not done. However, Descalzi told the WSJ that he would likely step down if found guilty in the Nigeria case rather than wait for the outcome of lengthy appeals.A verdict in the case is expected later this year, and in the Italian legal system the ruling could be appealed twice.Descalzi’s mandate comes up for renewal in the spring.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Italy tax police search offices of Eni managers in obstruction probe: sourcesItalian tax police searched the Milan offices of three managers at Eni on Thursd...
Read more »
We may not see $100 oil 'for a long time,' says Chevron CEOThe energy industry has always been in transition, Chevron CEO Michael Wirth says. “It’s always moved to a more reliable, affordable and cleaner state.” Davos2020
Read more »
Grammy Task Force Demands 'Real and Constructive Change' After CEO OustingThe Grammy Task Force on Diversity and Inclusion has demanded 'real and constructive change' in the aftermath of the battle between the Recording Academy and ousted CEO Deborah Dugan
Read more »
Former Wells Fargo CEO fined $17.5M for sales scandalFederal regulators have slapped former Wells Fargo CEO John Stumpf with a $17.5 million fine for his role in the bank's sales practices scandal.
Read more »
Universal Music CEO Lucian Grainge Toasted by Shawn Mendes & More at Hollywood Walk of Fame CeremonyUniversal Music Group chairman and CEO Sir Lucian Grainge was honored by Shawn Mendes, Lionel Richie and more music A-listers during the unveiling of his star on the Hollywood Walk of Fame.
Read more »