Saipem chief quits amid corruption probe

Corruption probe: Chief executive Pietro Franco Tali resigned on notice of court investigation

Saipem said Wednesday its chief executive quit and the chief operating officer of its construction division was suspended following a court notification of a corruption investigation at the company.

Separately, state oil company Eni also said its chief financial officer, Alessandro Bernini, had also resigned.

The Italian service player, which denied wrongdoing, said the investigation from Milan's prosecutor is related to certain company contracts to 2009 in Algeria.

"Saipem believes that its business activities have been conducted in compliance with applicable law, internal procedures, its code of ethics and Model 231, and the company has offered its full cooperation to the Milan prosecutor's office," the company said in a statement.

Its board on Wednesday accepted the voluntary resignation of chief executive Pietro Franco…

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