September 23, 2020

Dia dismisses its CEO after five months in office – The Province

Dia dismisses its CEO after five months in office - The Province


The board of directors of Dia has appointed CEO to theformer director of Inditex and El Corte Inglés, Borja de la Cierva, instead of Antonio Coto, who has been dismissedafter five months in office, while Jaime García-Legaz has been appointed as a director, as reported by the company to the National Securities Market Commission (CNMV).

In particular, Coto, a manager with more than 30 years of experience within the company and who had held the position of executive director in Latin America and partnership,He was appointed CEO at the end of August when he relieved Ricardo Currás.

Five months later he has been dismissed from his position, whose position will be held by De la Cierva, who has extensive experience in the retail sector, sinceHe held the general financial management of Inditexand the positions of deputy director of purchases and director of the supply chain in El Corte Inglés.

The governing body has also appointed by co-option Jaime García-Legaz Ponce as independent director of the supermarket chain to cover the vacancy created by the resignation of Karl-Heinz Holland. However, his appointment is subject to compliance with certain administrative requirements derived from his previous condition as a senior official of the Administration.

García-Legaz has extensive experience, as in addition to having been Secretary of State for Commerce during the Government of Mariano Rajoy, he has also been president of Aena and the Spanish Insurance Company of Export Credit (Cesce).

The board of directorsHe has also appointed Miguel Angel Iglesias Peinado as co-optation,current corporate secretary of the company, as executive director of the company and thus cover the vacancy created by the resignation of Sergio Dias, who together with Karl-Heinz Holland, were the men representing the Fund LetterOne, of the Russian billionaire Mikhail Fridman, in the board of directors.

On the other hand, the governing body has indicated that it has taken up the resignation of Ana María Llopis, who resigned as president of the firm during this year, as the company's director on December 31.

As a result of the appointment of De la Cierva as CEO, this onehas resigned as a member of the audit and compliance committee, which will have the independent director Julián Díaz González and Jaime García-Legaz as new incorporations.

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