Celsa’s creditor funds have chosen the former CEO of Gas Natural (today Naturgy) as the future president of Celsa’s board of directors once they take control of the shares. Villaseca is currently the president of the Naturgy Foundation.
In a statement, the funds have assured that the manager “will be in charge of presiding over the new board that will pilot the new stage of the company and guarantee its viability and stability.” In the same note, the creditors have indicated that “with the appointment of Villaseca, the funds are betting on a recognized figure and consensus with the administration, and comply with the commitment announced in their restructuring plan to put the company in the hands of executives top-level independents with extensive professional experience”.
The last step that remains for the shareholding change contemplated in last Monday’s ruling to take place is for the Council of Ministers to approve the entry into Celsa’s capital of foreign investors. By virtue of the royal decree that entered into force on September 1, the Government must decide whether or not to authorize the change of ownership within three months after the funds have requested approval.
Villaseca is a manager with extensive experience in very diverse sectors such as Panrico’s food, Molins’ cement or Naturgy’s energy. He is also the one in the steel industry where he was CEO of Nueva Montaña Quijano.
Regarding the next step to follow, the funds have reported that it is “to work closely with all interested parties to ensure that the process of implementing the plan is carried out in the best possible way.”
