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

Naturgy’s Shareholders’ Meeting was held in Madrid today without any discord among the four major investors that control its capital: CriteriaCaixa, CVC, GIP, and IFM. Despite months of internal tensions, the group’s remuneration policy, particularly the salary of President Francisco Reyns, was a key topic of discussion. However, 76% of the capital present at the event supported the Annual Remuneration Report, indicating solidarity with the company’s management team.

One of the significant factors that contributed to this outcome was CriteriaCaixa’s support for Reyns. As the largest shareholder of the company and an investment arm of FundaciĆ³n La Caixa, CriteriaCaixa closed ranks with Reyns at the meeting. 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 the management team led by Reyns. This support was reflected in the positive vote on various agenda items at the Shareholders’ Meeting.

Reyns and Isidro Fain have maintained a close bond since Reyns took over management of Naturgy in 2018, and CriteriaCaixa’s public statements in support of Reyns have played a significant role in solidifying his position. Despite challenges to Reyns’ leadership, including calls for a change in the company’s governance model, CriteriaCaixa has consistently backed him, emphasizing the company’s positive results and strategic direction.

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 its resilience in facing internal tensions and external challenges during its Shareholders’ Meeting. The unwavering support from CriteriaCaixa underscored confidence in

By Aiden Johnson

As a content writer at newspoip.com, I have a passion for crafting engaging and informative articles that captivate readers. With a keen eye for detail and a knack for storytelling, I strive to deliver content that not only informs but also entertains. My goal is to create compelling narratives that resonate with our audience and keep them coming back for more. Whether I'm delving into the latest news topics or exploring in-depth features, I am dedicated to producing high-quality content that informs, inspires, and sparks curiosity.

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