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MOVES-Enel's head of US and Brazil to leave, sources say
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MOVES-Enel's head of US and Brazil to leave, sources say
Dec 4, 2024 8:04 AM

MILAN, Dec 4 (Reuters) - Alberto De Paoli, head of

countries including the United States, Brazil and Chile at Enel

, will soon leave the Italian energy company, two

sources familiar with the matter said, the latest management

change under the group's new CEO.

De Paoli, who also served as Enel's chief financial officer

between 2014 and 2023, will be succeeded as Director, Rest of

the World, by company veteran Roberto Deambrogio, the sources

added.

De Paoli's exit, first reported by Italian financial daily

MF, is the latest management change since Flavio Cattaneo took

over from Enel's long-serving CEO Francesco Starace in May 2023.

The replacement comes as the group starts to roll out an

investment plan worth nearly 11 billion euros ($11.5 billion) in

Latin America and North America due to be completed by 2027.

De Paoli is set to follow a new career path that might

involve an entrepreneurial activity, one of the sources said.

Presenting its updated business plan last month, Enel said

it was committed to invest to keep its concessions in Brazil and

Chile, two countries where some of the power grids managed by

the Italian group have been hit by extreme weather, triggering

power outages and local government complaints.

($1 = 0.9529 euros)

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