Sacyr Vallehermoso Group has decided to strengthen the boards of directors of its subsidiaries Vallehermoso (residential property development), Itinere (transportation infrastructure concessions), Testa (rental property) and Valoriza (services) with the goal of including renowned professionals who will contribute towards attaining the growth and returnrelated goals of each business unit.
Pedro Pérez Fernández, who was already a director of another group subsidiary, Testa (a position from which he will now step down), will be proposed as non-executive chairman of Itinere. Pedro Pérez (55), an economist, previously held the positions of Secretary of State for Economy, chairman of the Consejo Superior Bancario (Higher Banking Council), chairman of Bankers Trust in Spain and of Tabacalera, and executive director of the IMF.
Luis Eduardo Cortés Muñoz will be proposed as non-executive chairman of Vallehermoso. An attorney (62), he has been a senator, a congressman, a councilman for Madrid and vice president and director of the Community of Madrid.
José Manuel Loureda Mantiñán, a civil engineer (66), will be proposed as the new non-executive chairman of Valoriza. He is the founder of Sacyr and former chairman of Sacyr Vallehermoso. He is presently a director and member of the executive committee. He remains as a member of Vallehermoso's board, of which he has been chairman since June 2003.
Furthermore, Participaciones Agrupadas (a shareholder company of SyV and which represents the interests of Caja Murcia, Unicaja, Caja Ávila and Caixanova) will be proposed to join the board of Sacyr, the construction subsidiary. Participaciones Agrupadas was already present on the boards of Vallehermoso and Testa.
For its part, Torreal, also a shareholder of SyV, will be proposed to join the boards of Itinere and Valoriza (Pedro del Corro García-Lomas) and Vallehermoso (Pablo Garnica Gutiérrez). Torreal was already present on Testa's board.
Demetrio Carceller Arce, a shareholder and director of the SyV holding, will be proposed as a member of Vallehermoso's board.
Luis Carlos Croissier Batista will be proposed for director by cooptation at Testa's next board of directors meeting. A 54 year old economist, Croissier is presently a director of several companies including Adolfo Domínguez and Jazztel.
Rafael Arias Salgado, Francisco Moure Bourio and José Ramón Calderón Ramos, who up until now have been directors of Ena Infraestructuras, will be proposed to join Itinere's board. José Ángel Presmanes, until now nonexecutive chairman of Itinere, will be proposed as non-executive chairman of Ena Infraestructuras.
These appointments will represent for Sacyr Vallehermoso a reinforcement of its strategy in that the subsidiaries will be able to take advantage of the experience and knowledge of these renowned and clearly demonstrate the involvement of the shareholders in running the company.
Source: Sacyr Vallehermoso
