Terna CEO waives claim to severance pay after criticism from Italy PM (updated)

Terna Rete Elettrica Nazionale SpA

21/04/2026 19:52

Recasts after Terna CEO gives up claim to severance pay

ROME, April 21 (Reuters) -
Italian grid operator Terna said on Tuesday its TRN.MI outgoing CEO, Giuseppina Di Foggia, will waive her claim to 7.3 million euros  ($8.56 million) of severance pay in order to take up a new post as chair of energy group Eni ENI.MI.

Di Foggia had come under pressure from Prime Minister Giorgia Meloni to renounce the payout at a time when the government is struggling to find ways to help families and firms cope with higher energy prices.

A statement from Terna said Di Foggia had "expressed her willingness to sign an agreement to give up her severance pay," adding that it would provide further details in due course "in full respect of the principles of corporate governance."

        Terna will hold an extraordinary board meeting in the next few days to discuss the issue, Reuters reported on Monday.

Meloni told reporters earlier on Tuesday that Di Foggia had "to choose between the presidency of Eni and the severance package from Terna."

"It seems to me that the matter is quite straightforward," she 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.

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 = 0.8525 euros)

 (Reporting by Giuseppe Fonte, editing by Gavin Jones)

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