EDP's main shareholder, China Three Gorges, will ask shareholders to renew António Mexia's mandate as CEO of the Portuguese electricity company. Luís Amado will be the new chairman.
Luís Amado and António Mexia are the names on the table for the position of chairman and CEO, respectively, during EDP’s next mandate between 2018 and 2020, according to a press release disclosed this Monday on CMVM (Portuguese Securities Market Commission).
EDP’s shareholders will vote on a new structure for the current corporate bodies over the next general-assembly scheduled for April 5 by China Three Gorger, Oppidum Capital, Senfora, Millennium BCP Group’s Pensions Fund and Sonatrach, according to the press release.
These changes derive from the fact that the mandate of the current members of EDP’s executive Board has ended on December 31, so new members must be elected. The Board has nine people, and Manso Neto continues to be proposed as Mexia’s number two, but the Board will now have a feminine presence: Maria Teresa Isabel Pereira and Vera Pinto Pereira. The current financial administrator, Nuno Alves, is not included in the nominations for the next triennial Board.
The Supervisory Board will also have a minimum of nine elements, but should always have more elements than the number of administrators and should be independent, preferably. The highest office of this board will belong to former Foreign Affairs minister Luís Amado.