Paolo Scaroni
 Paolo Scaroni      ( businessman) | ||||||||||||||||
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| Born | Paolo Scaroni 28 November 1946 Italy, Vicenza | |||||||||||||||
| Nationality | Italian | |||||||||||||||
| Alma mater | • Bocconi University • Columbia Business School | |||||||||||||||
| Member of | European Round Table of Industrialists | |||||||||||||||
Italian businessman who was the CEO of Italian energy companies Enel and Eni, talking much of carbon reduction. In the same period he attended 7 Bilderberg meetings from 2003 to 2011. Other of his many board positions include deputy chairman of Rothschild Italia and president of AC Milan..
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Paolo Scaroni is an Italian businessman who was the CEO of Italian energy companies Enel and Eni[1], talking much of carbon reduction.[2]In the same period he attended 7 Bilderberg meetings, from 2003 to 2011. Other of his many board positions include deputy chairman of Rothschild Italia and president of AC Milan. In May 2023, he was appointed Chairman of the board of directors of Enel, despite British warnings that it would "undermine US and EU attempts to curb Russian influence" and the Atlantic Council saying Scaroni was "an unwise pick".
Contents
Education
In 1969, Scaroni graduated from Bocconi University of Milan in the field of economics. In 1973, he obtained an MBA from Columbia Business School.[1]
Career
In 1969, Scaroni joined Chevron Corporation for three years. After obtaining MBA, Scaroni was an associate at McKinsey & Company. In 1973, he joined Saint-Gobain, where he held different positions, culminating with his appointment as president of flat glass division. In 1985, he was appointed CEO of Techint. In 1996, he moved to the United Kingdom to become chief executive officer of Pilkington.[1][3]
Enel and Eni
From May 2002 to May 2005, he was CEO of Enel, Italy's leading electricity company.[1] Under his time, Enel created a separate wind energy unit and, for the first time, Enel was included in the Dow Jones Sustainability Index.[4]
In 2005, he was appointed CEO of Eni, the Italian multinational energy company, considered one of the seven world supermajors. In his nine years at ENI, Scaroni reduced the weight of oil in favour of natural gas, seen as an intermediate transition combustible in the path toward even more sustainable sources.[5] In 2012, Eni was included in the Carbon Performance Leadership Index, which scores companies based on their "commitment to transparency and environmental leadership".[6] During Scaroni's tenure, ENI's stock market price increased from €39 billion to €61 billion. He left his role in 2014.[5]
When questioned on energy transition and "sustainability" he has often stressed that wind and solar power alone won't be sufficient to achieve the ambitious carbon reduction goals that Europe has set. According to Scaroni such goals can only be met if, in addition to the use of these, a strong emphasis is put on energy efficiency measures and a pervasive reengineering of industrial processes. He also is an advocate of the use of nuclear energy as a way to reduce CO2.[7]
In May 2023, he was appointed Chairman of the board of directors of Enel.[8], despite British warnings that it would "undermine US and EU attempts to curb Russian influence" and the Atlantic Council saying Scaroni was "an unwise pick".[9]
A.C. Milan
On 21 July 2018, he became chair (presidente) of A.C. Milan, after the club was taken over by Elliott Management Corporation. He was one of the eight directors of the club after the takeover by Li Yonghong.[10] In June 2020, Li accused Scaroni of having a conflict of interest in the club's management. Among other issues, Li cited Scaroni's position as deputy chairman of Rothschild Italia (which advised on the acquisition of the club), as well as his prior business relationship with Elliott.[11] AC Milan won the Scudetto Serie A in 2021–2022 with Scaroni as President of A.C. Milan on 22 May 2022, and he was confirmed in his position as chairman in September 2022, following the acquisition of Milan by US fund RedBird.[12]
Board positions
In addition to his executive management position, Scaroni, has or has had numerous non-executive roles, amongst which:
- Deputy Chairman of Rothchild & Co.[1]
- Vice Chairman of the London Stock Exchange[1]
- Chairman of Giuliani Group srl[13]
- Chairman of Sicura SpA
- Chairman of Alliance Unichem[1]
- President of Vicenza
- board member of Veolia Environment[1]
- board member of BAE Systems[14]
- board member of ABN AMRO[15]
- board member of Alstom[15]
- board member of Assicurazioni Generali[1]
- Member of Board of Overseers of Columbia Business School[1]
- Member of Board of Overseers of Fondazione Teatro La Scala[1]
- Member of International Advisory Council of Bocconi University[16]
In 2004, Scaroni was decorated as Cavaliere del Lavoro. In November 2007 Scaroni was decorated as a member of the Légion d'honneur.[1][3]
Criminal cases
As part of the massive "Tangentopoli" scandal that brought down Italy's post-war political parties, in 1996, Scaroni was sentenced to one year and four months in prison (below the limit of execution of the sentence), but managed to get a Milan tribunal to declare the crime too old in 2001.[17]
Subsequently, in his roles as CEO of ENEL and ENI, he was involved in three judicial investigations (ENEL Porto Tolle, ENI/Saipem Algeria, ENI/Shell Nigeria) but, on those, he was definitively acquitted in 2017, 2020, and 2022 respectively.[18][19][20]
Events Participated in
| Event | Start | End | Location(s) | Description |
|---|---|---|---|---|
| Bilderberg/2003 | 15 May 2003 | 18 May 2003 | France Versailles | The 51st Bilderberg, in Versailles, France |
| Bilderberg/2004 | 3 June 2004 | 6 June 2004 | Italy Stresa | The 52nd such meeting. 126 recorded guests |
| Bilderberg/2005 | 5 May 2005 | 8 May 2005 | Germany Rottach-Egern | The 53rd Bilderberg, 132 guests, the earliest in the year since the 1967 Bilderberg |
| Bilderberg/2006 | 8 June 2006 | 11 June 2006 | Canada Ottawa | 54th Bilderberg, held in Canada. 133 guests |
| Bilderberg/2007 | 31 May 2007 | 3 June 2007 | Turkey Istanbul | The 55th Bilderberg meeting, held in Turkey |
| Bilderberg/2010 | 3 June 2010 | 6 June 2010 | Spain Hotel Dolce Sitges Barcelona | The 122 guests met in the Hotel Dolce Sitges, Barcelona, Spain. |
| Bilderberg/2011 | 9 June 2011 | 12 June 2011 | Switzerland Hotel Suvretta St. Moritz | 59th meeting, in Switzerland, 129 guests |
| WEF/Annual Meeting/2013 | 23 January 2013 | 27 January 2013 | Switzerland WEF | 2588 mostly unelected leaders met to discuss "leading through adversity" |
| WEF/Annual Meeting/2014 | 22 January 2014 | 25 January 2014 | Switzerland WEF | 2603 guests in Davos considered "Reshaping The World" |
References
- ↑ a b c d e f g h i j k l https://web.archive.org/web/20101020042226/http://www.eni.com/en_IT/company/organisation-chart/chief-executive-officer/paolo-scaroni-chief-executive.shtml
- ↑ https://www.eni.com/assets/documents/governance/relazione-sul-governo-societario-2005.pdf
- ↑ a b https://web.archive.org/web/20210728052639/https://www.europeanceo.com/profiles/paolo-scaroni-eni/
- ↑ https://www.enel.com/company/about-us/our-story
- ↑ a b https://www.huffingtonpost.it/2014/04/03/scaroni-direttiva-tesoro-nomine_n_5084463.html
- ↑ https://www.eni.com/en-IT/media/press-release/2012/09/eni-confirmed-in-dow-jones-sustainability-world-index.html
- ↑ https://www.repubblica.it/economia/2021/09/03/news/scaroni_il_nucleare_ci_serve_per_azzerare_le_emissioni_le_rinnovabili_non_bastano_-316419760/
- ↑ https://www.enel.com/investors/governance/board-of-directors/paolo-scaroni
- ↑ https://www.theguardian.com/world/2023/may/04/pro-putin-paolo-scaroni-pick-to-chair-italy-energy-firm-enel
- ↑ https://www.goal.com/en-us/news/ac-milan-name-scaroni-new-chairman-as-elliott-take-control/10zjloymu3ovs1hu6f05xenp2p
- ↑ https://www.forbes.com/sites/chloeberesford/2020/06/02/ac-milan-paolo-scaroni-berlusconi-elliott-rothschild-yonghong-li/%7Caccess-date=28 July 2021}}
- ↑ http://www.acmilan.com/en/news/articles/club/2022-09-14/ac-milan-shareholders-appoint-new-board-of-directors
- ↑ https://www.milanofinanza.it/news/scaroni-presidente-di-giuliani-group-1916529
- ↑ https://www.thetimes.com/article/scaroni-walks-out-after-boardroom-bust-up-at-bae-systems-505nb6d09hw
- ↑ a b https://www.chairmentors.com/mentors-bio/paolo-scaroni/
- ↑ https://www.viasarfatti25.unibocconi.it/notizia.php?tipo=c&rubrica=&canale=18&azione=&idArt=5039&kgiorno=1&kmese=2&kanno=2019
- ↑ Barbacetto, Gianni; Travaglio, Marco; Gomez, Peter (2002). Mani Pulite – la vera storia [Mani Pulite - the true story] (in italiano). Editori Riuniti. ISBN 9788861905146.
- ↑ https://www.ansa.it/veneto/notizie/2017/01/18/porto-tolle-assolti-ex-vertici-enel_0e2f80f6-9c49-4296-aedf-fe965f5a7ecd.html
- ↑ https://www.reuters.com/article/saipem-algeria-corruption-idUSL8N29K4ZN
- ↑ https://www.ansa.it/english/news/business/2021/03/17/descalzi-scaroni-acquitted-in-eni-nigeria-case_37725c44-b648-454d-ae92-d414e9d95333.html
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