26 September 2024
Soltec begins negotiations with financial entities to reach a debt restructuring plan for its subsidiary Soltec Energías Renovables
- Raúl Morales, who until now served as the Executive Chairman of the company, has submitted his resignation to the Board of Directors.
- Mariano Berges del Estal, who previously held the position of joint CEO alongside the Executive Chairman, has been appointed as the sole CEO, assuming full executive responsibility.
- This decision follows discrepancies raised by Soltec’s external auditor, Ernst & Young (EY), during the preparation of the consolidated Financial Statements for FY 2023 and occurs within the context of the succession process of Raúl Morales as the company’s top executive, which began in June with the proposal to appoint Mariano Berges as CEO, approved in June.
The Board of Directors of Soltec has agreed to appoint Marcos Sáez Nicolás, who until now has been a proprietary director of the company, as the new Non-Executive Chairman of the Board of Directors. The appointment follows the resignation of Raúl Morales, co-founder of Soltec, as the Executive Chairman of the company.
Raúl Morales’ decision comes after discrepancies were raised by Soltec’s external auditor, Ernst & Young (EY), during the preparation of the Consolidated Financial Statements for FY 2023 occurs within the context of Raúl Morales’ succession as the company’s top executive, initiated in May with the proposal to appoint Mariano Berges as CEO, which was approved in June.
Additionally, Mariano Berges del Estal, who held the position of joint CEO alongside the former Executive Chairman, has been appointed as the sole CEO.
Following the decisions made by the Board of Directors, the composition of the Board remains unchanged, with no changes its committees. In this regard, Raúl Morales will continue as a proprietary director representing his shareholding.
Marcos Sáez Nicolás: Extensive Experience in the Group
Marcos Sáez has a proven track record and extensive experience in Grupo Corporativo Sefrán, a business group with various business divisions. Sáez has been the coordinator of the group since June 2022 and hold the position of Chief Executive at Zukán, a company specializing in the development and production of sweetener blends. He also served as the CFO of this company for nearly two decades.
In the past, Sáez held the position of CFO at Soltec Energías Renovables, S.L. (Soltec Trackers) for 15 years and has served as a proprietary director of Soltec Power Holdings since 2020.
