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

Despite months of internal tensions among the four major investors who control Naturgy’s capital, the company held a successful Shareholders’ Meeting in Madrid today without any signs of discord. One of the key topics of discussion was the group’s remuneration policy, particularly Francisco Reyns’ salary, which had been questioned by major international voting advisors leading up to the meeting.

Ultimately, 76% of the capital present at the event supported the Annual Remuneration Report, indicating solidarity with Reyns and his management team. CriteriaCaixa, the largest shareholder of Naturgy and investment arm of Fundación La Caixa, 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 Reyns and his leadership team.

Reyns and Isidro Fain have maintained a close bond since Reyns took over management of Naturgy in 2018. 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 Naturgy’s governance model, CriteriaCaixa has consistently backed him, emphasizing the company’s positive results and strategic direction.

Naturgy’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’s Shareholders’ Meeting showcased the company’s resilience in the face of internal tensions and external challenges. The unwavering support from CriteriaCaixa underscored confidence in Reyns’ strategic direction and management team.

By Samantha Jones

As a dedicated content writer at newsaca.com, I bring a unique blend of creativity and precision to my work. With a passion for storytelling and a keen eye for detail, I strive to craft engaging and informative articles that captivate our readers. From breaking news to thought-provoking features, I am committed to delivering content that resonates with our audience and keeps them coming back for more. Join me on this exciting journey as we explore the ever-evolving world of news and information together.

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