Ana Paula Marques moves from Nos to EDP board

  • ECO News
  • 18 December 2020

Ana Paula Marques, vice-president of Nos, will be the only external member of EDP's executive management team.

Ana Paula Marques is the manager who will join Miguel Stilwell’s team on the Board of Directors of EDP for the next three years. Until now vice-president of Nos, Ana Paula Marques has accumulated over twenty years’ experience in telecommunications and is now the only external member of the company’s executive management team that will have a total of five members, ECO found out from a source familiar with the process.

Miguel Stilwell proposed to EDP shareholders a team that is, in practice, a shift in continuity. There is a generational renewal, but of the five members, four are already in the executive management. Stilwell himself, Rui Teixeira, Miguel Setas and Vera Pinto Pereira.

As the ECO revealed this Thursday, Miguel Stilwell proposed to EDP’s main shareholders a new executive management, a list that should be announced this Friday, with the extraordinary shareholders’ meeting scheduled for January 19, that is, 30 days later.

João Marques da Cruz at EDP Brazil

Martins da Costa, 66, is a senior executive at EDP, has served as the company’s chairman in Brazil and is expected to be a representative and advisor to the executive board of directors. João Marques da Cruz is to be appointed chairman of EDP Brasil, where Miguel Setas has been until now.

EDP Brasil will no longer have a chairman with a seat on the executive board of directors of EDP, with this new governance model, and a team of five managers (there were nine until the suspension of functions of António Mexia and João Manso Neto). But it is not the first time that this has happened, Ana Maria Fernandes has already been chairman of EDP Brasil without being on EDP’s board. In any case, Brazil’s business has lost weight in the group’s total results, and is now below 10% (much due to the devaluation of the Brazilian Real).

EDP Brasil made a profit of 808 million Brazilian reals (around 130 million euros) in the first nine months of the year, a fall of 3.6% compared to the same period last year, which the company associates with the impact of the pandemic on business. EBITDA also fell 2.7% to 1.98 billion Brazilian reals (equivalent to 320 million euros). At the end of September, EDP Brasil’s net debt stood at 5.8 billion Brazilian reals (933 million euros), according to the latest results.