ENEL Enel Spa

0839 GMT - Enel SpA is among the most mentioned companies in the news over the past 12 hours, according to Factiva data, after the Italian government proposed Flavio Cattaneo as the new chief executive officer of the state-controlled utility as part of the renewal of the board. Mr. Cattaneo is set to replace Francesco Starace, while Claudio Scaroni will become chairman of the company. "This is a surprise considering that newspapers in recent days pointed to Stefano Donnarumma, the current CEO of Terna, as the new CEO of Enel," Equita Sim's Stefano Gamberini says in a note. Mr. Cattaneo currently is executive vice president at rail company Italo SpA and has previously served as CEO of Italian grid operator Terna SpA and telecommunications company Telecom Italia SpA. Enel's shares trade 4.3% lower at EUR5.73. "The main doubt is about possible changes in the strategic direction of the company toward a higher focus in the domestic Italian market or about the speed of the energy transition," according to analysts at RBC Capital Markets. Dow Jones & Co. owns Factiva. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

April 13, 2023 04:54 ET (08:54 GMT)

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