With the sudden resignation of its Chief Executive Officer (CEO) Francesco Caio, Saipem has promoted energy industry veteran Alessandro Puliti to serve in the post.
The Italian oilfield services company announced on Wednesday that Puliti will still serve in his current role as General Manager.
In its statement, Saipem said Caio had resigned “as he considered completed, with the first half year results, his role to reposition and relaunch the company.”
“The Board of Directors unanimously has thanked Francesco Caio for his work in such a complex context and acknowledged his commitment to implement the necessary strategic and organisational changes needed to lead the company towards a new relaunching phase,” Saipem outlined.
Caio was appointed as Saipem CEO in 2021 and presented an upbeat industrial plan before the group shocked the market with a profit warning in January.
Before joining Saipem in February this year, Puliti spent three decades first at Agip, an Italy-focused subsidiary of Saipem, and then the parent, including as Chief Operating Officer for natural resources and Chief Upstream Officer.
Saipem is a major contractor for ExxonMobil Guyana, operator of the offshore Stabroek Block in the South American country.
As with previous Guyana projects, Saipem is set to deliver a major subsea system for the country’s largest oil project – Yellowtail; the contract includes the Engineering, Procurement, Construction, and Installation (EPCI) of the Subsea Umbilicals, Risers & Flowlines (SURF).