Francisco Reynes is co-opted to the Board in replacement of Carlos Sagasta Reussi for the remaining duration of his mandate, i.e. up to the general meeting of shareholders examining the accounts for the financial year ending June 30, 2011. Francisco Reynes is CEO of Abertis, which he joined in May 2009 from the post of MD of Criteria CaixaCorp, the investor holding company of La Caixa. Prior to this, he principally held executive appointments in companies in the automotive and energy sectors.
The Board also nominated Olivier Rozenfeld as an additional independent director to replace Pier Francesco Guarguaglini for the remaining duration of his mandate. Rozenfeld is a board member and former financial director of Iliad Group. He began his career in international finance at Merrill Lynch and Goldman Sachs at their London and New York offices.
Both nominations will be submitted for approval to the next ordinary general meeting of shareholders. With these two new appointments, the Board of Eutelsat Communications comprises 11 directors, including two independent directors.