New low on the board Day. Supermarket chain controlled by the fund Letterone It has just been announced that the former president of Aena will not be with the company at the next shareholder meeting. The manager expressed his desire that his position on the governing body, as well as on the Audit and Compliance Committee, not be subject to re-election. The dismissal of Garcia-Legas was the second on Dia’s board of directors in less than a month, as follows farewell to Basola Valleswho claimed that the incompatibility was still linked to the Spanish company.
The company informed National Securities Market Commission (CNMV) that the Executive Director “has fully served his three-year term for which he was elected by the General Meeting of Shareholders held on March 20, 2019. As a result, Mr. Garcia-Legas Ponce effectively ceases to be the director of DIA. at the next General Meeting of Shareholders”. To fill the vacancy, the Board of Directors, at the proposal of the Nomination and Remuneration Committee, will propose an appointment Gloria Hernandez Garcia as a new independent.
Gloria Hernandez has over 30 years of experience in the financial world, complemented by various roles as a non-executive director at Siemens Gamesa. Hernandez is also an independent director Nortegas D Parkia. She previously held the position of CFO at Bankinter. He also spent 15 years at the Ministry of Economy and Finance.where she was CEO of Treasury and Financial Policy from 1999 to 2003.
Jaime García-Legas joined Dia in January 2019 after receiving permission from the Office of Conflicts of Interest, which is dependent on the Ministry of Territorial Policy and Public Functions, to join as director. The former president of Aena arrived during the mandate of Borja de la Cierva.but in the months that followed, he continued to lead the takeover of the fund Letterone after a takeover bid.
The figure of Garcia-Legaz has always been interpreted as being very close to the new Russian owners of the network, as pointed out by a group of minority shareholders. Thus, the former Minister of Commerce gained weight and headed the commission of the Financial and Capital Structure a newly formed organization established to advise a company on matters related to its financial structure and strategy.
Two casualties in 18 days
The departure of the former president of Aena comes just 18 days after another independent director of the company announced his farewell. It was Basola Valles who wanted to clarify that her resignation was solely due to her being named Senior Vice President of Strategic Client Relationships (SEMEA) in the group. sales department. This position, they pointed out to the stock market regulator, made it impossible for Valles to continue to serve on the boards of directors of other organizations.
Be that as it may, both exits take place against the backdrop of a flurry of accusations from Russian ties to some of Letterone’s shareholders, owner of a chain of supermarkets. The company has repeatedly stated that none of these investors has a majority stake in the Spanish firm. and therefore they do not fear that they will be affected by trade sanctions imposed on businessmen associated with Kremlin.
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