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☆ Soccer AC Milan take first step in new arena project
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

The AC Milan logo is pictured on a pennant in a soccer store in downtown Milan, Italy April 29, 2015. REUTERS/Stefano Rellandini/File Photo Acquire Licensing RightsMILAN, Sept 27 (Reuters) - AC Milan are starting a process to build a new stadium on the outskirts of Milan, the Italian soccer club said on Wednesday, after efforts to replace their historic San Siro arena led nowhere. "It's a first step," AC Milan chairman Paolo Scaroni said at a press briefing presenting the project. Like other Italian clubs, AC Milan, who are controlled by U.S. fund RedBird, do not own an arena, which is seen as a key driver to boost revenue. The club and local rival Inter Milan have been in talks for years with the city of Milan to advance a joint project to rebuild San Siro, which was built in the 1920s and is currently the home ground of both teams.

Persons: Stefano Rellandini, Milan, Paolo Scaroni, Elvira Pollina, Valentina Za, Ed Osmond Organizations: REUTERS, Milan, AC Milan, U.S, Inter Milan, Thomson Locations: Milan, Italy, Italian, San Siro, San Donato

☆ Executive’s Russian Ties Cause Stir at Italian Energy Company
▼ + stars: | 2023-05-10 | by ( Margherita Stancati | Anna Hirtenstein | ) www.wsj.com time to read: 1 min

Paolo Scaroni has previously served as chief executive officer of both Enel and Eni. Photo: Italy Photo Press/Zuma PressROME—New executives were appointed to top roles in Italy’s leading energy companies on Wednesday, despite fierce opposition from some foreign investors who had challenged the picks made by the firms’ main shareholder, the Italian government. The most controversial appointment is that of Paolo Scaroni as chairman of Enel , the state-controlled utility company. The nomination of Mr. Scaroni, an energy-industry veteran and ally of former Italian prime minister Silvio Berlusconi , drew sharp criticism because of his history of close business dealings with Russia.

☆ Italian corporate activism has a long way to go
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

MILAN, May 10 (Reuters Breakingviews) - Fighting opaque governance at Italy’s state-backed companies is proving a tough nut to crack. That’s a victory for the Italian Treasury – the utility’s top investor with 23.6% – which managed to install oil and gas veteran Paolo Scaroni as chairman, along with other board members. The Italian state is in dire need of improving the way it picks its corporate representatives. But to confront Rome, investors will need to make a good case. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Factbox: Italy's govt nominees for top jobs at Enel, Eni, Terna
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +3 min

Their appointments will need to be approved by investors at meetings scheduled for May 9 for Terna, and May 10 for both Enel and Eni. ENEL (ENEI.MI)Flavio Cattaneo, 59, is an experienced manager and entrepreneur who will leave his role as vice president of high-speed train operator Italo to succeed current Enel CEO Francesco Starace. Becoming Enel chairman would be for him a return to the utility where he served as CEO between 2002 and 2005. Scaroni also served as chief executive of energy group Eni between 2005 and 2014. ENI (ENI.MI)The Treasury proposed CEO Claudio Descalzi for a fourth term and picked Giuseppe Zafarana, 59, as chairman for the energy group.

☆ Italy’s green star has new, uncertain trajectory
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 13 (Reuters Breakingviews) - In 2021, Enel (ENEI.MI) had the world at its feet. The group remains the world’s largest private operator of renewable energy, and its goal for 75 gigawatts of green power capacity by 2025 leaves the targets of parvenus like BP (BP.L) in the dust. Given Scaroni’s background, it may even seem like a good idea to combine Enel with $53 billion Eni and create an inward-focused national champion rather than a global net zero star. That may make Enel less appealing to international investors than once seemed likely. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

The most surprising appointment was that of the new Enel chief Flavio Cattaneo, a seasoned corporate manager who leaves his role as vice president of high-speed train operator Italo to lead the country's biggest utility. He leap-frogged Stefano Donnarumma, the current chief executive of power grid Terna (TRN.MI), widely seen as Meloni's first choice. Enel shares were down 4% on Thursday, with investors fretting over Cattaneo's lack of expertise in the renewable energy sector. Leading politicians in Meloni's right-wing coalition said this issue was a major stumbling block for Donnarumma, along with pressure from League chief Salvini, a strong supporter of Cattaneo. Besides concessions on Enel, Meloni kept a tight grip on the rest of the main appointments.

☆ How Gerry Cardinale became the go-to dealmaker for the likes of the Yankees, AC Milan, and Ben Affleck
▼ + stars: | 2022-12-29 | by ( Hayley Cuccinello | Dakin Campbell | ) www.businessinsider.com time to read: +20 min

He bought the soccer club AC Milan in August, earning the attention of the Italian press. This past spring, AC Milan won its first national title in 11 years. Claudio Villa/AC Milan via Getty Images Show less Cardinale at a training session for AC Milan. For instance, the teams sell each other's merchandise in their stadiums, and the YES Network airs AC Milan games. "Now we have a new phase of expansion and internationalization of AC Milan with Gerry."

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