E - Descalzi poised for record fourth term as Eni CEO - report

Eni ( NYSE: E ) CEO Claudio Descalzi is on course to secure Italian Prime Minister Meloni's support for an unprecedented fourth term leading the state-controlled energy company, Reuters reported Friday.

Another three years in office would make Descalzi, who has held the job since 2014, Eni's ( E ) longest-serving head of the company since its foundation in 1953.

Key figures in Meloni's government want Descalzi to remain in office, seeing the veteran CEO's knowledge of Africa a key asset as closer relations with Algeria are part of Italy's efforts to gradually replace 25B cm of Russian gas over three years.

Descalzi is due to present Eni's ( E ) latest business plan on February 23, with his third term concluding in May.

Eni ( E ) continues to trade at a "depressed" valuation, Mare Evidence Lab writes in an analysis published on Seeking Alpha .

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