João Talone returns to EDP as non-executive chairman

  • ECO News
  • 12 March 2021

João Talone's name will be proposed by EDP's largest shareholders, replacing Luís Amado. The decision is expected to be taken on April 14.

João Talone is expected to return to EDP, this time as non-executive chairman. According to Expresso newspaper, the manager’s name will be proposed by EDP’s largest shareholders, thus replacing Luís Amado. João Talone was executive chairman of the company between 2003 and 2006.

With the choice of João Talone for this position, EDP’s shareholders intend to change the profile of the General and Supervisory Board (GSB) to a more technical one. Thus, the strategy involves appointing someone who has already been CEO of the company, a strategy that will be followed in the future for the choice of other members.

In addition, the number of GSB members will be reduced from 21 to 15, and one of the names that will also be on the list is that of Esmeralda Dourado, who left the non-executive board of TAP. Luís Amado will remain connected to the electric company as a senior consultant. João Talone was CEO of EDP between 2003 and 2006, when the state was the company’s largest shareholder. His return is expected to be decided at the shareholders’ general meeting on April 14.