Revolution in the Enagás dome. The manager of the gas system and the gas pipeline network completely overturned his board of directors, elevating a new CEO (Arturo Gonzalo Aizpiri, from Repsol) and dispensing with the old guard linked to the Popular Party inherited from the Governments of Mariano Rajoy
The group, in which the State has a direct participation of 5% through SEPI, has traditionally had on its board a enormous weight of politicians and ex-politicians who appear as independent directors. The changes approved this Monday, which must be endorsed by the shareholders’ meeting convened for March 30, represent a complete turnaround in the game of counterweights between the big parties.
The advice rejects the renewal of five of its members, all of them linked to the Popular Party. Until now CEO and executive member of the board, Marcelino Oreja, leaves the governing body to give his place to the new CEO.
Four other members considered independent and all linked to the PP also leave the council: the former minister Isabel Tocino, the former secretary general of Alianza Popular Antonio Hernández-Mancha; Ignacio Grangel, also close to the PP and who was Álvaro Nadal’s chief of staff when he was Secretary of State for Energy; and Gonzalo Solana, former president of the National Competition Commission. Of the old guard of the PP in the council of Enagás, only Ana Palacio, former minister of the governments of José María Aznar, will remain, who will maintain her role as an independent coordinating director of the body.
More weight of the PSOE
In addition to the new CEO Arturo Gonzalo, new independent directors include Maite Costa, former president of the former National Energy Commission and former socialist deputy; Manuel Gonzalez Ramos, former socialist deputy and former Government delegate in Castilla-La Mancha; as well as academics David Sandolow and Clara Garcia Fernandez Muro
In recent years, previous changes in the composition of the Enagás board have served to introduce profiles linked to the coalition government, some of them very directly linked. In 2020, the former socialist ministers entered as new directors Jose Montilla and Jose Blanco, and an expert linked to United We Can, the scientist Cristóbal Gallego. Last year, they were appointed as directors Maria Theresa Arcosformer General Director of Telecommunications in the Government of Pedro Sánchez, and Natalie Fabra, academic that is part of advisory bodies of the Ministry of Economic Affairs and the Ministry for Ecological Transition.
Llardén gives up powers
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In addition to the replacement of the CEO, a substantial change is also being promoted in the distribution of power at the top of the group’s leadership. Antonio Llardén will remain Chairman of Enagás, but will transfer all his executive powers to the new CEO, in an attempt to improve the company’s corporate governance practices. Enagas, with 90% of the capital listed on the stock marketyields to the trends demanded by institutional investors and agrees to have a non-executive chairman and CEO with full powers.
The new CEO, Arturo Gonzalo, comes from Repsolwhere he held the position of general director of Communication, Institutional Relations and Presidency of the oil company and where he has held different positions and areas since 1990. He was also general secretary for the Prevention of Pollution and Climate Change in the Ministry of the Environment , with the socialist Cristina Narbona as minister and where she coincided with the current vice president and minister Teresa Ribera.
