Forbes.es : The board of Repsol endorses the continuity of Brufau and Imaz at the helm of the company for another 4 years
Forbes.es : The board of Repsol endorses the continuity of Brufau and Imaz at the helm of the company for another four years. The general shareholders’ meeting of Repsol, held this Thursday, has endorsed the re-election of Antonio Brufau as non-executive chairman of the company, as well as that of CEO Josu Jon Imaz, both for another four years.
Brufau, who had announced in 2019 that he would step down from his position in 2023, will continue for one more term until 2027, forming a tandem at the helm of the company with Imaz.
Brufau has been a board member of Repsol since 1996 and has held the presidency since 2004, although in 2015 he transferred all executive functions to Josu Jon Imaz, the CEO of the oil company.
The executive from Mollerusa is currently 75 years old, so with this new re-election, he will remain as the energy company’s chairman until the age of 79.
DIVIDEND OF €0.375 IN JANUARY.
Furthermore, Repsol also received support for the improvement in shareholder remuneration and approved the distribution of a gross complementary dividend of €0.35 – payable on July 6 – and the distribution of another gross dividend of €0.375 per share from free reserves, scheduled to be distributed in January 2024.
Additionally, approval was given for a reduction in share capital through the amortization of 50,000,000 of the company’s own shares, and the general meeting proposed granting the board of directors the authority to fully or partially execute, at its discretion, a second reduction in share capital through the amortization of up to a maximum of 132,739,605 of the company’s own shares, equivalent to 10% of the company’s share capital.
Along with the continuity of Brufau and Imaz, the shareholders also voted for the re-election as directors of Aránzazu Estefanía Larrañaga, María Teresa García-Milá Lloveras, Henri Philippe Reichstul, and John Robinson West, as well as the ratification of the appointment by co-optation and re-election of Manuel Manrique, who will thus continue on the governing body of the company despite Sacyr having ceased to be a shareholder of the oil company last year.
MARÍA DEL PINO VELÁZQUEZ JOINING THE BOARD.
Likewise, the appointment of María del Pino Velázquez Medina as an external independent director was approved. With her appointment, the majority of independent directors on the board of directors will reach 73.33%, and the presence of women will increase to 40%, in line with international best practices and the recommendations of the Good Governance Code for listed companies of the National Securities Market Commission.
Velázquez holds a degree in Mathematics with a specialization in Statistics from the Complutense University of Madrid and an MBA from IESE Barcelona. After starting her professional career at Accenture and A.T. Kearney as a consultant, and working as a member of the Presidency Cabinet and the senior Strategic Planning team at Banco Santander, she joined the Airtel (Vodafone) team as Director of Customer Service, where she was responsible for the strategy and execution of customer relations across all channels.
In 1999, she founded the Unísono Group to provide services to large corporations related to the customer experience, and she led its development and growth to reach 9,000 employees and 7 companies in call centers, consulting, automation, and digital process outsourcing, with a division in digital transformation, business intelligence, AI, and consulting, present in Spain, Chile, Colombia, and Scotland.
Velázquez was the president of the board of directors of Unísono until August 2021, the date on which the company was acquired by Grupo Altice and she disassociated herself from it.
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FAQs:
1. What decision was made by the board of Repsol regarding Brufau and Imaz’s roles in the company?
The board of Repsol has endorsed the continuity of Antonio Brufau as non-executive chairman and Josu Jon Imaz as CEO of the company for another four years.
2. When was this decision made?
The decision was made during the general shareholders’ meeting of Repsol, held recently.
3. How long will Brufau continue as chairman of Repsol?
Brufau, who initially announced his plan to step down in 2023, will now continue for one more term until 2027.
4. What is the current position of Brufau within Repsol?
Brufau has been a board member of Repsol since 1996 and has served as the president since 2004. However, in 2015, he transferred all executive functions to CEO Josu Jon Imaz.
5. What is the age of Brufau, and how does it relate to his re-election?
Brufau is currently 75 years old. With this new re-election, he will remain as the chairman of the energy company until the age of 79.
6. Was there any decision regarding shareholder remuneration?
Yes, Repsol received support for the improvement in shareholder remuneration. The distribution of a gross complementary dividend of €0.35, payable on July 6, was approved. Additionally, another gross dividend of €0.375 per share from free reserves is scheduled to be distributed in January 2024.
7. Were there any other important decisions made during the general shareholders’ meeting?
Yes, there were other decisions made. These include a reduction in share capital through the amortization of company shares, the re-election of certain directors, and the appointment of María del Pino Velázquez Medina as an external independent director.
8. Who is María del Pino Velázquez Medina, the newly appointed director?
María del Pino Velázquez Medina is an external independent director who has been appointed to the board of Repsol. She has a background in Mathematics and an MBA, and she has held significant positions in companies like Accenture, A.T. Kearney, Banco Santander, and Airtel (Vodafone).
9. What was Velázquez’s previous role before joining the board of Repsol?
Velázquez was the president of the board of directors of Unísono until August 2021. However, the company was acquired by Grupo Altice, and she disassociated herself from it at that time.
