Scouting report · ITH.L

Luciano Vasques

Chief Executive Officer & Executive Director, ITH.L since 2024-10src

Ran Eni UK; Ithaca Energy CEO since the October 2024 Eni UK combination

—thin record

Not ranked yet

Scouting sheet

as of 24 Sep 2026

Delivers guidance—no promises on the record yet

Answers the question—no call reviewed yet

Capital allocation—company not reviewed yet

Pay design100relative tsr · 99.99% for

Skin in the game—no holding or price on file

In the role: 2 yr
Promises scored: 0
Hit rate: —
Dodges / 100 answers: —
Airtime on calls: —

Every promise, oldest firstno scored promises yet

What to weigh

Watch 4

Controlled company with two blockholders: Delek (50.7%) and Eni (38.7%) at completion. Together that is 89.4% of the shares. The CEO is Eni's nominee, and the board consulted the majority holder on the 2024 leadership changessrc
Executive Chairman Yaniv Friedman, not the CEO, is quoted on the FY2025 and H1 2026 results. Friedman also receives LTIP awards close to the CEO's (469,804 vs 563,764 shares in April 2026)src
The 2026 remuneration report vote was 99.99% for, but the two controlling holders own most of the votes. That makes the result a weak signal of minority approvalsrc
Pay, shareholding and age not located: the 2025 annual report (ithacaenergy.com, FCA NSM) and Companies House were egress-blocked, and eu_data was off-limits this monthsrc

In their favour 1

Long-term awards pay only on three-year relative TSR against an energy-sector peer group, and part of the annual bonus is deferred into shares for three yearssrc

Career

2024 – now
Ithaca Energy plcsrc
Chief Executive Officer; executive director
Took office on completion of the Eni UK combination, 2024-10-03; Eni proposed him on 2024-05-28

Undated in the sources

Eni UK Limitedsrc, Managing Director; led the acquisition of Neptune Energy and its integration into Eni UK
Eni S.p.A.src, Head of Central Asia, overseeing Eni's interests in the Kashagan and Karachaganak fields
Eni S.p.A. groupsrc, Leadership, technical and operational upstream roles; a career of over 30 years by May 2024

Not located: No year is sourced for any role before October 2024. The RNS bios give no dates, and the sources that would have them (the August 2024 prospectus and circular, the annual reports and bio page on ithacaenergy.com, Companies House, the FCA NSM) were all egress-blocked on 2026-09-24

Achievements

Ran Eni UK and led its acquisition and integration of Neptune Energy, then came over as CEO when Eni merged substantially all its UK upstream assets into Ithacasrc
First full year as CEO (2025): production 119 kboe/d, at the lower end of the upgraded guidance; opex at the guidance mid-point; producing-asset capex and Rosebank capex below their guidance rangessrc
FY2025 reported a $84.1m loss, driven by a one-off $327.6m non-cash deferred tax charge after the Energy Profits Levy was extended to 2030. Adjusted net income was $289.2m, and $500m of dividends were declaredsrc
Q2 2026 production reached a record 131 kboe/d. FY2026 production guidance was reaffirmed, opex and Rosebank capex guidance were cut, and dividend guidance rose to $500-530msrc

Background

Other Nominee of Eni: Eni proposed him as CEO under the combination, and at completion Eni UK held 38.7% of Ithaca, with Delek's DKL Energy holding 50.7%src
Boards Sat on the steering committee of the North Sea Transition Deal, led by the regulator NSTA (as of May 2024)src
Personal Italian; resident in the United Kingdomsrc
Family No family relationship to any director or officer located. The annual report that would state it could not be read (egress-blocked)src

The promise ledger

No promise on the record yet: the research routine has not scored this company's guidance.