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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Eni Spa | BIT:ENI | Italy | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.426 | -3.04% | 13.57 | 13.524 | 13.60 | 13.754 | 13.514 | 13.70 | 33,068,647 | 02:01:06 |
By Giulia Petroni
Eni SpA said late Thursday that Chief Executive Claudio Descalzi and all senior managers would defer half of their 2020 long-term incentive plans until 2021.
"The decision has been made due to the current health emergency and the situation in the oil-and-gas sector, and it joins the company's measures to reduce investment and operating costs," the Italian oil-and-gas company said.
This action will reduce Eni's outflows by 30.2 million euros ($32.6 million) this year, it said.
Eni also said it would reduce costs related to the remuneration of senior management this year, saving a total of EUR16.5 million. Combined with additional administrative savings, the company said it will save a total of EUR62.3 million in 2020.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
April 24, 2020 01:31 ET (05:31 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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