• Thu. Apr 25th, 2024

Resilience and Support: Naturgy Overcomes Tensions and External Challenges with Strong Shareholders’ Meeting

BySamantha Nguyen

Apr 2, 2024
Fain and Reyns unite: Criteria backs Naturgy leadership salaries, reaffirms commitment as long-term investor

The Shareholders’ Meeting of Naturgy took place in Madrid today, and despite months of internal tensions among the four major investors who control its capital, there were no signs of discord. Key topics of discussion included the group’s remuneration policy, particularly the salary of President Francisco Reyns, which had been questioned by international voting advisors.

Ultimately, 76% of the capital present at the meeting supported the Annual Remuneration Report, indicating solidarity with Naturgy’s management team. One of the most significant supporters was CriteriaCaixa, the largest shareholder and investment arm of Fundación La Caixa. With 27% ownership of the gas company, CriteriaCaixa released a statement expressing explicit support for Naturgy’s transformation plan and reaffirming its commitment as a long-term investor to Reyns’ leadership.

Despite challenges to Reyns’ leadership and calls for a change in the company’s governance model, CriteriaCaixa has consistently backed him. The company’s performance on the stock market has been influenced by external factors such as gas and electricity prices and liquidity issues resulting from a takeover bid. Despite facing these challenges, Naturgy’s management received strong support at the Shareholders’ Meeting, with a 90% attendance quorum and overwhelming approval of key proposals.

In conclusion, Naturgy showcased resilience during its Shareholders’ Meeting in spite of internal tensions and external challenges. The unwavering support from CriteriaCaixa underscores confidence in Reyns’ strategic direction and management team.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

Leave a Reply