Governance Model & Policies

Corporate governance defines the structure and the rules for the direction and control of companies.

Integrity and transparency are the principles that Eni follows in defining its corporate governance system

The governance system is based on the applicable general and special law, By-laws, Code of Ethics, recommendations set forth in the Corporate Governance Code issued by Borsa Italiana in March 2006, internal procedures and best practices on theme.

Eni is a company listed both on Milan and New York stock exchange. The company adopts the traditional corporate governance model, that attributes the company business management to a Board of Directors and the control functions to a Board of Statutory Auditors. The auditing of financial statements is entrusted to an auditing firm.

The Shareholders Meeting deliberates on the most remarkable decisions for the company life, among the other, appointing the company bodies, approving the annual financial statements and modifying the By-laws.

The Board of Directors has delegated part of its own managerial competences to the CEO and has instituted three internal Committees, with consulting and advisory tasks. The roles of CEO and Chairman of the Board are clearly separated and both have the representation of the company.

Eni is subject to the general laws for listed companies and to those special related to the activity that it runs.

The presence of the Ministry of Economy and Finance, as a controlling shareholder, implicates the control on the financial management of the Company by the Court of Auditors ("Corte dei Conti") and  the application of special laws that, nevertheless, don't engrave on the rights of the other shareholders.

To these norms have to be added those related to the special powers of the State ("Golden Share") and to the limits of stock possession/voting rights: the special powers are not directly connected to the role of shareholder of the Ministry. 

The By-laws contains all these provisions, the Eni Corporate Governance Code describes the characteristics of the company governance and the Corporate Governance Report annually furnishes information detailed on the corporate governance system and on the ownership structure.