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Starace, “Business-person of the year”

This is in recognition of his work in the energy sector
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Enel’s results in the first nine months of 2019 and, above all, its ability to achieve them through electrification and decarbonisation”: these are the reasons why Fortune Italy has named the company’s CEO and General Manager Francesco Starace the energy sectors “Business person of the year.The magazine based its decision on economic and financial data provided by Bureau Van Dijk - A Moody’s Analytics Company, and identified the companies with the best performance over the past three years. Fortune Italy focused on eight sectors that play a key role in economy: industrial, finance, energy, food, pharmaceuticals, technology, startups and fashion. The research also considered such factors as sustainability and the propensity for innovation, as well as more strictly personalqualities like strategic vision, charisma and leadership. Fortune then identified 10 managers worthy of mention in each sector, and provided eight profiles of Business people of the year.

 

The recognition in the energy sector received by Francesco Starace came at the end of a very successful year for the company: in terms of capitalisation, Enel is among the first utilities worldwide, and is Italy’s leading Group, in addition to being the largest in Europe. In an article that appeared in Fortune Italys December issue, the CEO gave an overview of the Group’s performance during the first nine months of 2019. He confirmed that operational growth, the effort going into efficiency enhancement and corporate structure simplification will enable it to exceed its full-year consolidated ordinary EBITDA target and to “reach about €17.8 billion.” Furthermore, the Group will be able to generate a consolidated ordinary net income of about €4.8 billion at the end of the year. These numbers are “the result of precise strategic choices, such as Enel’s commitment in South America.”

 

Fortune also focused on the value of sustainability for the Group led by Francesco Starace: “It is an integral part of Enel’s strategy, as it is good not only for the planet and for communities, but it also helps direct  strategic and operational choices towards less risky routes and towards more stable returns over time.” Adhering to the United Nations 17 Sustainable Development Goals (SDGs) and reaching the set targets in advance has led the Group to undertake further challenges, such as a 70% reduction in its direct greenhouse gas emissions per kWh by 2030, from a 2017 base-year, and achieving the full decarbonisation of its production mix by 2050.

 

Enel’s commitment continues on several fronts: as regards the financial sector, it launched, on both the US dollar and euro markets, the first-ever general-purpose bonds linked to the achievement of the UN’s SDGs. And the Group’s growth in renewables shows no sign of stopping: it has reached record values of new installed power every year since 2016, going from 2 GW/year in 2016 to an estimated 3 GW/year for 2019.

 

 

Enel editorial staff