EDP’s shareholders are showing solidarity towards their CEO, says Catroga

  • ECO News
  • 6 June 2017

Eduardo Catroga, representative of EDP's shareholders on the board, has shown his support towards António Mexia, who has been made a defended in the financial compensations' case.

Eduardo Catroga at a press conference in EDP, after António Mexia and João Manso Neto were made defendants by the Public Prosecutor. Paula Nunes/ECO

Eduardo Catroga, representative of the shareholders from EDP‘s board, showed his support to the administration and the CEO António Mexia, who was indicted last Friday by the Public Prosecutor.

“Shareholders are sympathetic towards the administration and its CEO”, stated Eduardo Catroga in the press conference in which António Mexia explained the context of the financial compensations granted to the Portuguese electricity company, which is now being investigated.

As chairman of the supervisory board, Eduardo Catroga assured the members of the board “have unanimously shown solidarity towards EDP’s executive committee”. He also disclosed that some of the board members even believe efforts should be made in order to discover who made the anonymous accusations, so that it is possible to take legal action against them. “You don’t play with quoted companies”, highlighted the shareholders representative.

João Manso Neto, CEO of EDP Renováveis, was also accused by the Public Prosecutor. Following research done by the Criminal Police and the Public Prosecutor, both managers are involved in a possible active and passive bribery, as well as graft and corruption.

In a press release, EDP confirmed there was an anonymous complaint reporting “matters related to Energy Acquisition Contracts (CAE) and their replacement for Costs of Maintenance of Contractual Equilibrium (CMECs), which began in 2004”. Mexia and Manso Neto were made defendants because they represented EDP when those contracts were signed, assures the electricity company.

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