Last checked at 2 Oct 2014 07:00
In accordance with article 82 of the Securities Market Act, ENDESA S.A. (the “Company” or “Endesa”) hereby places on notarial record the following
SIGNIFICANT EVENT
1.- On today's date, Mr. Andrea Brentan, the Chief Executive Officer of Endesa since 2009, has communicated his decision to resign from the positions he holds with the Company. His resignation will be formalised at the Board of Directors meeting to be held on 7 October. Mr. Brentan, having made strategic contributions to the design of Endesa's corporate restructuring and consolidation in the Spanish market, will continue with the Group as a director for several companies, such as Enersis or Enel Green Power.
The Chairman of Endesa, expressing the view shared by both directors and employees, thanked Mr. Brentan for his total dedication and commitment to Endesa, which, under his leadership, was able to strengthen its industrial and financial position in an context marked by profound economic and regulatory problems in Spain, and was also able to effectively take advantage of opportunities in Latin America, setting the grounds for a new phase that the Company intends to begin in the immediate future.
2.- The Chairman of Endesa will submit a report to the Nominations and Remuneration Committee and will propose the appointment of Mr. José Damian Bogas as Chief Executive Officer of Endesa to the Board of Directors on 7 October. Mr. Bogas, born in Madrid in 1955, is an industrial engineer and has been with the Endesa Group since 1982, having held various senior positions in the Company.
Mr. Bogas' in-depth knowledge of Endesa and the Spanish electricity sector, as well as his proven abilities to manage complex regulatory processes, makes him the ideal person to take over the position of Chief Executive Officer of Endesa at a crucial time in the Company's industrial and strategic consolidation as the largest electricity company in Spain and Portugal.
Copyright Business Wire 2014