From the transfer of Isidro Faine to the emergence of Carlos Cuerpo

It is easy to speculate, and so is to invent. But the truth inexorably triumphs. The board of directors of the holding company La Caixa on Thursday decided to appoint Angel Simon as the new CEO replacing Marcelino Armenter. As president and head of the company, he continues Isidro Fein who, at age 81, was re-elected to a new four-year term. Those who argued that the government-Junta pact would lead to the resignation of the Spanish banker and the return of La Caixa to Catalonia are left guessing, which is not a bad task for those who lack information or who simply want to create it. .

But Simon’s appointment also has its significance. Although he continues to lead Aguas de Barcelona (Agbar), he has already announced that he is stepping down from his executive roles, his position as vice president of Veolia (the French group that owns Agbar), as well as his remuneration. And what Yolanda Diaz I didn’t ask for this. But Simon’s promotion is big news not only for Criteria. Let us recall that Criteria, in addition to being the first shareholder of CaixaBank with a share of 32.24%, owns 26.4% of Naturgy; 19.09% Bank of East Asia; 9.10% – Grupo Financiero Inbursa (in which they are partners with Mexican tycoon Carlos Slim); 4.36% Cellnex; and 2.40% Telefónica. If we add to these criteria the Telefónica shares owned by CaixaBank, the group’s share in the Spanish operator reaches 4.88%, which allows Faina not only to be one of Telefónica’s vice presidents, but also to play a decisive role in the company. which remains subject to interference from foreign funds and internal problems.

Speaking of Criteria and the La Caixa Foundation, 100% owner of Criteria, this week the Council approved an increase in the Foundation’s budget to 600 million euros, an increase of 12% compared to 2023 and the highest figure in history. This is social concern, not empty words. In any case, the strength of Criteria and Caixabank is the good news of the week. Not only because of the shareholder movements that plague many Spanish companies, but also because of the recent interference of political power in business decisions.

Trying to negotiate a shorter working day outside of work was nonsense on the part of Yolanda Diaz

I would not like to dwell in too much detail on the statements of the second vice-president of the government about revising the salaries of company executives or including workers on boards of directors. I think it was even more stupid of Yolanda Diaz to try to negotiate shorter hours outside of the business owners. The noise was such that they called Vice President Moncloa to rectify the situation. And the solution is nothing less than holding bilateral meetings between the business organizations CEOE and Cepyme and the CC.OO trade unions. and UGT. This is what the President of the Madrid Business Confederation told us at the Onda Madrid meeting: Miguel Garrido, who also recalled that boards of directors are “the matter of general meetings of shareholders, who are the owners of the companies, and not of the second vice-president Yolanda Diaz.” In addition, employers and trade unions already have experience, and recent experience, in solving problems without acting. Labor Minister, although she has already stated that she will monitor these agreements. Well, keep an eye on this.

And we continue political interventions. Some come late: three weeks after admission. Finally last week! The new Minister of Economy, Trade and Business has seen fit to meet with some of them, that is, the banks that are still unhappy with his imposition, as we saw in Davos. Carlos sneakers Body Not only did he talk to the bankers – they all told him the same thing – but he will appear on Wednesday at the Congress of Deputies to explain the main directions of his department in this legislative body. That was also the time. It is a pity that the permanent deputation of the Congress rejected the request of the PP to find out the details of the agreement between PSOE and Junts to amend the Capital Companies Law, which wants to facilitate the return of companies to Catalonia. But it’s the same. One way or another, this issue will come up in the appearance of the Corps. Don’t miss how he tries to reconcile the freedom to form a company with this new law. Difficult task. And this is not the minister’s only problem. He will soon have to decide on the name of the next governor of the Bank of Spain. Or the governor. I think taking advantage of the sales, all the candidates are buying sneakers.

Benefiting from up-to-date information if you are a competing company is not the same as if you are doing it to support the country’s economy.

The body will also have to decide whether to replace the leadership of the National Securities Market Commission or extend its mandate for another two years. Your President, Rodrigo Buenaventura, who wants to continue, also spoke out this week, saying the CNMV’s priority is to “clarify Grifols’ accounts.” Well, thank God this is their priority, because we already thought that they gave us grapes without knowing anything. By the way, Buenaventura, like other ministers and senior officials, seem to have reached a common conclusion: “It is great news that foreign groups such as BlackRock and the Saudi STC are investing in Spanish companies.” Well, yes, that’s good news, but they didn’t explain why. A purely financial investment or benefiting from relevant information if you are a competing company is not the same as if you are doing it to create wealth and support the economy of our country. Let them tell Isidro Faine or Cesar Alierta, whose funeral, presided over by the king, was an ode to the Spanishness of our companies. Companies that create wealth and jobs in Spain. Someone tell Yolanda Diaz.

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