Enel's CEO candidate aims to cut costs, confirm dividend policy - Bloomberg News

(Reuters) - Italy's biggest utility company Enel SpA plans to accelerate cost-cutting measures and maintain its dividend policy under its new government-proposed management, Bloomberg News reported on Friday, citing people familiar with the matter.

Earlier this month, the Italian government decided on a board shake-up at the state-controlled company, proposing Flavio Cattaneo, currently executive vice president of high-speed train operator Italo, to succeed Francesco Starace as CEO and Paolo Scaroni, a former chief of Enel and Eni, as chairman.

Shareholders, including those led by UK fund Covalis, challenged the Italian government's decision to shake up the company's board, calling the process "opaque" and demanding clarification from Rome.

A shareholder vote on board appointments is due on May 10. The company was not immediately available for comment on the Bloomberg report.

(This story has been refiled to correct syntax in the headline)

(Reporting by Rahat Sandhu in Bengaluru; Editing by Anil D'Silva)