Fernando Martin appointed Executive President of FADESA (ES)

FADESA's new Management Board, at the meeting held yesterday, has appointed Fernando Martín as the Executive President of the company, after the successful completion of the public offer to purchase shares presented by the companies Martinsa and Huson Big.

The Management Board, which will continue with the same composition until the merger between FADESA and Martinsa is complete, is composed of a total of eleven members, of which eight are starting their term of office. The new Board Members, who have taken up their posts, are Fernando Martín; Antonio Martín Criado, appointed Vice-President; Fernando Martín del Agua; José Luis Olivas, President of Bancaja; Jesús Salazar, President of SOS Group; Juan Carlos Cebrián, President of Aguieira de Inversiones, Rafael Bravo and José Manuel Serra Peris, Lawyer of the Public Administration. The independent Board Members José Luis Suárez Barragato and Joaquín Sánchez-Izquierdo will continue in their posts, presiding over the Audit Commission and the Appointments and Salaries Commission, respectively, along with Antonio de la Morena Pardo, Managing Director.

Fernando Martín, President of FADESA, pointed out that "the new stage we have initiated at FADESA requires a solid Management Board, with the presence of figures with a sound business reputation, an outlook towards the future and a capacity to reach the objective to ensure the solid growth of the company, which is one of the leaders in the Spanish and European Real Estate Sectors".

Central and Operational Offices
The organisational model is based on corporate decentralisation that involves maintaining the Central Office in La Coruña, along with the creation of an Operational Office in Madrid and the reinforcement of the regional and international offices.

After the creation of the new Management Board, the process starts for the merger between the companies Martinsa and FADESA. The group resulting from this union between FADESA and Martinsa will be the leading real estate company in Spain, with land holdings covering 25 million square metres of constructible land, 17,000 pre-sold homes and promotions in progress or in the project stage in practically all of the Spanish Autonomous Regions as well as in 13 other countries, among them Morocco, Portugal, France, Poland, Hungary, Rumania and Mexico.

The key points of the new business model will be specialisation in large real estate developments, whilst maintaining its position as leader in residential developments, holiday homes, land transformation or rehabilitation, promotion of international expansion and diversification. The company will also consider the opportunity of participating in other activities in the future, which include services and concessions, as well as new energies.

Source: FADESA

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