Enel falls more than 3.5% on the stock market after the renewal of its management team

The Italian energy group In itowner of the Spanish Endesa, today loses 3.6% on the Milan Stock Exchange after the appointment, by the Italian Executive, of Flavio Cattaneo as its new CEO and Paolo Scaroni as president.

Investors have not welcomed the appointment of both leaders to take the reins of the group, decided after a long negotiation between the leaders of the ruling right-wing coalition in Italy, which this week is renewing the leadership of state-owned companies.

Enel started the session with a drop of more than 4%, although it has managed to cut losses throughout the morning.

It is, however, the only group whose valuation has fallen after the appointment of the new managers: the oil company Eni rises 0.33%, the defensive sector company Leonardo grows 2.64% and the postal company Poste Italiane , 0.23%.

The renewal of senior managers has led to a battle in the right-wing coalition that governs the country, according to local media, although the prime minister, the far-right Giorgia Meloni, defended that the appointments “are the result of a careful evaluation of their powers and not of which party they belong to”.

In the case of Enel, the appointment of Cattaneo, according to local media, was a suggestion by Matteo Salvini, vice president and leader of the far-right League, Matteo Salvini, after agreeing to the departure of Francesco Starace, CEO and director of Enel since 2014. .