Paolo Scaroni says Italy must take care of its large industrial groups

In an interview with Il Sole 24 Ore, Paolo Scaroni, managing director of UK glass maker Pilkington who has just been appointed CEO of former Italian electricity monopoly Enel, has said that working in the utilities industry represents a complete change of scenery for him.

He said that although it is one of the most difficult sectors, it is also one of the most stimulating. Mr Scaroni said that his aim was to create value for shareholders adding that it was too early to talk about specific strategies.

The new managing director said that Italy has few big industrial groups remaining and it must protect them and ensure their success. He added that he will remain as vice chairman of Pilkington in order to ensure a smooth transition following his departure. Shares in the UK group fell 5.4 per cent following the announcement of Mr Scaroni's resignation. In Milan, Enel gained 2.3 per cent.

600450 Paolo Scaroni says Italy must take care of its large industrial groups
Date: 16 May 2002
Source: FT

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