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Terna CEO Di Foggia Signs Early Exit, Waives €7.19 Million Severance

The deal positions her for the Eni chair under rules that restrict payouts on moves within state-owned groups.

Overview

  • Di Foggia signed the exit agreement Saturday and her role ends on May 5, 2026.
  • She will forgo a supplemental severance estimated at €7,189,750, contingent on her appointment as Eni chair.
  • Terna will pay €108,750 gross as end-of-mandate for the CEO post and will settle any earned incentives under its pay policy.
  • Terna’s chairman Igor De Biasio assumes management powers until the May 12 shareholders’ meeting.
  • The move follows public pressure from Prime Minister Giorgia Meloni and reflects rules for state-linked firms that curb payouts when executives shift within the CDP group.