Business
Euskaltel completes Board restructuring
Euskaltel completes Board restructuring.
About this update from Zegona Communications Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0240B\n Zegona Communications PLC\n 05 October 2020\n \n \n \n \n NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA \n OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN SPAIN)\n \n OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.\n \n \n \n \n \n \n ZEGONA COMMUNICATIONS PLC (\"Zegona\")\n \n \n \n \n \n LEI: 213800ASI1VZL2ED4S65\n \n \n 5 OCTOBER 2020\n \n \n Euskaltel completes Board restructuring\n \n \n \n \n \n Following the Euskaltel EGM last Week, Zegona is pleased to highlight the successful restructuring of the Euskaltel Board and executive team over the past year. Zegona is confident that this restructuring will result in a more effective and efficient implementation of the company's 2020-2025 growth strategy outlined by Euskaltel senior management in March this year.\n \n \n \n Zegona recognised the potential to improve Euskaltel's performance and increased its investment to become the lead shareholder in 2019. Since then we have driven significant changes to the Euskaltel Board and management. The first key milestone was\n the appointment of José Miguel García (formerly CEO of Jazztel) as CEO of Euskaltel by shareholders in July 2019. Ángel Olabuenaga Burón, a highly experienced executive with previous roles at Telefonica, Electrolux and Vestas, was subsequently appointed as CFO earlier this year. With Zegona's increased shareholding in Euskaltel, Zegona's CEO, Eamonn O'Hare, also joined Robert Samuelson, Zegona's COO, on the Euskaltel Board.\n \n \n \n As announced last week, Euskaltel has now further strengthened its Board with two new `high-quality independent Board directors. Ms Beatriz Mato Otero and Ms Ana García Fau. They join Xabier Iturbe Otaegi, who was appointed the Chairman of the Board in October 2019 and José Ortiz Martínez who was appointed Company Secretary in November 2019. The new Board directors will make a significant contribution to the development of the business with their strong industry and governance credentials. At the same time, the Euskaltel Board size has been reduced to 10 members, which will help accelerate decision m...