Humberto Pedrosa leaves TAP administration

  • ECO News
  • 1 October 2020

Humberto Pedrosa and his son resigned from their positions on the airline's board of directors.

Humberto Pedrosa is not anymore the Chairman of the Board of Directors of TAP (SGPS) and his son David Pedrosa is no longer a member of the same body. The announcement was made in a statement this Thursday by the company to the Securities Market Commission (CMVM). The resignation extends to “the other companies in the TAP Group where they exercise management functions.”

TAP’s private shareholder and his son leave the board of directors, being replaced by José Manuel Silva Rodrigues and Alexandra Margarida Vieira Reis – who will also be part of the executive committee – who were elected as members “for the rest of the current term of office (2018-2020)”. This replacement also applies to the other companies in the group where the two held office.

“The reason for the resignations is related to possible implications, under evaluation, in the activities developed by Grupo Barraqueiro, of the planned reorganization of the shareholding in TAP,” explains the statement, noting that “Mr. David Humberto Canas Pedrosa will continue to collaborate with TAP, specifically in the restructuring process, with Grupo Barraqueiro maintaining its commitment to TAP Group as its reference shareholder.”