The ordinary general meeting of shareholders of Unicaja Banco, held this Thursday in Malaga, rejects the proposal to approve the appointments of independent directors Isidoro Unda and Maite Costawas among the agenda items. In this way, the position of the Unicaja Foundation, the main shareholder of the asset, was imposed, and last Tuesday the board of trustees decided that it would vote against this approval due to doubts arising from the independence of these two directors. Counted out of the CEO’s orbit, Manual Menendezcomes from the old Liberbank. The board of directors is a 86% participation quorum of the capital of the enterprise.
Other issues discussed at the shareholders meeting held at the bank’s headquarters on Avenida de Andalucía received the support of shareholders (it was necessary to exceed 50% of the capital represented), including: Appointment of four special directors recommended by the Unicaja Banking Foundation (Miguel González, Juan Antonio Izaguirre, Natalia Sánchez and José Ramón Sánchez) replaced those present (Juan Fraile, Petra Mateos, Manuel Muela and Teresa Sáez). The foundation accepted this relief last December due to the loss of trust in now-going managers.
Sergio Corral, general manager of the Unicaja Foundation, attended the meeting held on Thursday, March 30, in full, in the order of attendees, as well as voting negatively for the approval of the bank’s main shareholder. Two independents stated that they were looking for the point of abstention, referring to the board’s management. “adequate” management, “prudent and prudent”, financial involvement in Unicaja Banco
Therefore, the Foundation The business must “ensure” it “maintains sound corporate governance procedures” according to national and international norms and standards in force at all times.
He also reminded that as heir to the legacy of the former savings bank, the Foundation also wants it. Ensuring Unicaja’s traditional banking model, a retail business close to families and companies, and ties to the region.
Also, Corral, Foundation’s “help” in decision making aimed at improving the business model and asset governance.
“This overall framework of action, which is sustainable and financially efficient, will help maintain a solid capital and liquidity position and Return generation for owners of Unicaja Banco From the foundation’s point of view, Adequate interest in social workhe added. The foundation also sees “Basic” for maintaining an “adequate work environment”.
The results of the decisions taken in the general assembly regarding the members of the board of directors, To determine the correlation of forces in the council between the so-called bloc from Malaga (formerly Unicaja) and the Asturian bloc (from Liberbank) at a decisive moment for future control of the bank. In the coming months, Unicaja will face a change in its governance model that it has committed to European banking authorities and must be completed no later than 31 July.. These changes, which must be agreed upon by the board of directors, mean on the one hand the loss of executive functions of the chairman figure (a position currently held by Manuel Azuaga) and on the other hand a reassessment of the position. CEO (hired by Manuel Menéndez).
Azuaga advocates “continuity and preservation” of the bank’s values and culture
Manuel Azuaga, chairman of Unicaja Banco, in his speech at the shareholders’ meeting, considered that the new phase opened in the organization should be “articulated”. “continuity and preservation” of bank values and culture“to guarantee stability and adequate attention to the daily life of families, companies and society”.
“After the structuring of the first directive lines in the summer of 2021, last year the organization chart of the organization was fully deployed to exploit the full potential of the human team across three lines of defense: each in their respective roles good functioning of the bank“, he stated.
If its CEO, Manual MenendezExamining the accounts taken by the bank in 2022, he stated that the progress of the projects aimed at reaching the targets in the 2022-2024 strategic plan is 54%, and the merger synergy plan is close to 85%. By absorption with Liberbank.
He also reminded that Unicaja was included in Ibex 35 in December 2022, with a total return for shareholders of 22% in 2022.
ERE already implemented at 80%
In their speeches, Manuel Azuaga, President of Unicaja Banco, and Manuel Menéndez, CEO, Of the 1,513 workers agreed upon at ERE, 80% of layoffs and 100% of office closures have already occurred. acceptance.
Meanwhile, about a hundred workers of Unicaja Banco protested at the gates of the party’s headquarters this Thursday, which coincided with the ordinary shareholders’ general meeting, to protest the working conditions of the staff. “Liberbankarization” of Being.
UGT condemned “absolute disorder” The victimization of bank employees who do not work at Liberbank and adopt a “chaotic and outdated” business model.
CCOO, for its part,”end of the governance crisis” That Unicaja lived through its merger with Liberbank and did “too much damage” to the asset.