DIA ceases its CEO 4 months after naming it

DIA ceases its CEO 4 months after naming it


The supermarket chain DIA announced today the resignation of its CEO, Antonio Coto, four months after his appointment, a position that will now be held by Borja de la Cierva, the firm's advisor for two years.

De la Cierva joined DIA in September 2016 after leaving months before El Corte Inglés, where he was director of the Supply Chain.

In a statement sent to the National Securities Market Commission (CNMV), the company has also informed the appointment of Jaime García-Legaz as independent director.

The company has proceeded to reorder its board of directors following the recent departure of the three representatives in this body from its largest shareholder, the Russian billionaire Mikhail Fridman: Stephan DuCharme, Karl-Heinz Holland and Sergio Dias.

In addition, from the company have recalled that the non-executive president, Ana María Llopis, will effectively leave the company on December 31, and for the time being these functions continue in the hands of Richard Golding.

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