Enel, Eni, Leonardo, Poste, Terna up to Corneliani: over 600 seats that appeal to the parties

A monster game. It is the one that concerns the appointments of public subsidiaries: the seats expiring in the coming months are in fact 610, in 105 different companies (they become 135 if we take 2024 as the deadline). The closest concerns some of the largest Italian companies – Enel, Eni, Leonardo, Poste and Terna – whose top management will be renewed in the next few days to then be ratified by the shareholders’ meetings (Poste on 8 May, Terna and Leonardo on 9 and 10 Eni and Enel).

Not just the superbigs

As mentioned, there are 135 publicly controlled companies whose administrative bodies will have to be renewed. These also include small companies, second or third level subsidiaries, such as Manifattura Tabacchi or Corneliani, the historic textile company in Mantua transformed into a newco in 2021 with a massive intervention by Invitalia. In 2023, the administrative bodies of 18 companies directly owned by ministries, 49 second-level companies, in turn owned by large subsidiaries, and 3 third-level companies indirectly owned by Cassa Depositi e Prestiti will be included in the flurry of appointments. On 31 December 2023, the administrative bodies of 10 directly owned companies, 51 second-level companies and 4 third-level companies indirectly owned by CDP will expire and will therefore have to be renewed in 2024

First level

This year the companies under the direct control of the Ministry of the Economy, which has already filed the lists for MPS and ENAV, include: Amco, Cinecittà (limited to two directors), Consap, Consip, Enel, Eni (4.4 % from the Mef and 26.2% but still included in the direct appointments of the ministry); Equitalia Justice; Istituto Poligrafico e Zecca dello Stato Ita, Leonardo, Poste Italiane, Sogesid, Sport e Salute (limited to the office of president/CEO), Sogin (the office of the company’s commissioner structure expires on 18 July 2023). The subsidiaries of the other ministries include Difesa Servizi (Ministry of Defence) and Ferrovie Appulo Lucane (Ministry of Infrastructure and Transport).

Second level

Outstanding here are Poste Pay and Poste Vita (subsidiaries of Poste), Rai Cinema and Rai Way (Rai), Infratel (Invitalia), Rfi and Trenitalia (FS), Avio (Leonardo), Enel Plenitude, LNG Shipping, Gela Refinery (Eni ), Single Buyer (Gse). Third-level companies include Terna (Cdp Reti) and Manifattura Tabacchi (Cdp Immobiliare). In 2024, among the companies directly owned by the Mef, it will first of all be the turn of Cassa, which in turn will have to appoint the top management of Fintecna. For Cinecittà, the ministry will instead have to appoint the president, the CEO and a councilor. Still among the subsidiaries in Via XX Settembre, the board of directors of Eur, Gse, Invimit, Mefop, Rai, Sogei, Sose and Ferrovie dello Stato will have to be entirely renewed, which in turn will appoint those of Anas, BusItalia and Italferr. Eni will instead be responsible for the renewal of the Trans Tunisian Pipeline Company and Transmed gas pipelines, as well as Saipem. Invitalia, in addition to Corneliani, will finally have the task of restoring the former Ilva with the renewal of the board of Acciaierie d’Italia.