Cattaneo, who was appointed as CEO earlier this month, is considering replacing De Paoli who has spent nearly a decade as the company's CFO, the report said citing people familiar with the matter.

Stefano De Angelis is said to be the top pick for the post, the report added, with De Paoli likely remaining with the company in an executive position.

"Enel informs that currently no decisions have been made concerning appointments or changes within the company's top management," a spokesperson for Italy's biggest utility said on Wednesday.

This comes weeks after the Italian government won a vote over who should run the country's largest-listed company after a challenge from London-based hedge fund Covalis Capital failed to gain traction.

(Reporting by Gursimran Kaur in Bengaluru and Francesca Landini in Milan; Editing by Chris Reese and David Evans)