Franco
Bernabé was born
on September 18, 1948 in Vipiteno/Sterzing, Italy. In 1973 he graduated from the University of
Turin and worked as a post-graduate fellow in economics at the Einaudi
Foundation from 1973 to 1975. Franco received an honorary Doctor’s degree in
Environment Sciences from the University of Parma.
He
began his career as a Senior Economist at the OECD Department of Economics and
Statistics in Paris. Franco later worked in the planning department of Fiat as
a Chief Economist. He joined Eni in 1983
as an Assistant to the Chairman and became subsequently the Head of Corporate
Planning, Financial Control and Corporate Development.
He
is best known in Italy for turning around oil company Eni SpA (ENI), overseeing
its privatization and making it one of the world’s largest companies by market
value. His stint as CEO of Telecom
Italia, the biggest phone company in Italy has not been as successful. Franco
resigned as CEO in October 2013 after clashing with top shareholders in his
attempt to boost capital.
He
took over a company with a big debt burden and while he made gains in Latin
America, overall the debt burden was not fully addressed. With a severance pay of 3.7 million euros and
2.9 million euros 12- month non-compete agreement it’s not as bad as it seems.
Franco
is still active with various business interests.
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