Saipem Confirms Appointment of Umberto Vergine as CEO

The Board of Directors of Saipem S.p.A. has confirmed the appointment of Umberto Vergine as CEO of Saipem S.p.A.

The Board of Directors applied the evaluation criteria set forth in the Corporate Governance Code promoted by Borsa Italiana to ascertain that the Directors Francesco Carbonetti, Rosario Bifulco, Nella Ciuccarelli, Federico Ferro-Luzzi, Guido Guzzetti, Enrico Laghi and Nicla Picchi meet the independence requirements pursuant to art. 148, paragraph 3, of Legislative Decree 58/98, and art. 3 of the Corporate Governance Code. For the purposes of art. 37, paragraph 1, letter d) and paragraph 1 bis of Issuers’ Regulations, the Board of Directors is comprised of a majority of independent Directors (7 out of 9).

The Board of Statutory Auditors, in turn, ascertained the correct application of criteria applied by the Board of Directors.

Saipem shares are held by Umberto Vergine (420 shares).

Having started his career in Agip as Petroleum Engineer, Umberto Vergine worked between 1985 and 1991 in Norway on the Ekofisk field, in Angola in Cabinda and in Libia in Tripoli. He then took the responsibility of Production Manager of the Crema District in the North of Italy.

Between 1993 and 2001, Umberto covered various leading positions overseas, managing different Eni E&P companies: District Manager of Agip UK in Aberdeen, District General Manager of Nigerian Agip Oil Co (NAOC) in Port Harcourt and General Manager of Petrobel Company in Egypt. In 2001 he was Managing Director of Lasmo Venezuela in Caracas.

In 2010 Umberto was appointed Eni S.p.A. Senior Executive Vice President for Studies and Research. From 1st of January 2012 to 5th of December 2012 Vergine has been Chief Operating Officer of the Gas & Power Division – Eni S.p.A.

Press Release, May 12, 2014

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