Terna CEO must choose between severance pay and new job at Eni, Italy PM warns

Terna Rete Elettrica Nazionale SpA

21/04/2026 12:31

ROME, April 21 (Reuters) - Terna's TRN.MI outgoing CEO, Giuseppina Di Foggia, would have to give up her new role as Eni ENI.MI chair if she insists on claiming a 7.3 million euro ($8.58 million) severance pay from the power grid operator, Prime Minister Giorgia Meloni said.

Terna will hold an extraordinary board meeting in the next few days to discuss the cash claimed by Di Foggia, Reuters reported on Monday.

"I think Di Foggia has to choose between the presidency of Eni and the severance package from Terna. It seems to me that the matter is quite straightforward," Meloni told reporters in Milan.

The dispute is politically awkward for Meloni, whose government struggles to find ways to help families and firms cope with higher energy prices.

"I believe this is a decision to be made by Di Foggia. Obviously, we will consider our options consequently," Meloni added.

On Sunday, Italy's economy ministry said it was against state-backed groups paying severance cash to executives whose terms expire or who resign voluntarily.

A source familiar with the matter said Di Foggia's contract did not include a clause preventing her from receiving severance pay at the end of the mandate or in case of an early resignation.

The issue must be resolved before May 6, when Eni holds its shareholders' meeting.

Italy's Treasury owns a 29.85% stake in Terna through state lender CDP. The ministry and CDP also control Eni with a combined 33.1% shareholding.

($1 = 0.8503 euros)

 (Reporting by Giuseppe Fonte, Editing by Louise Heavens)

 ((giuseppe.fonte@thomsonreuters.com; +390680307711;))