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Abengoa to appoint Manuel Sánchez Ortega as Chief Executive Officer

May 24, 2010

  • He will share the executive direction of Abengoa with Felipe Benjumea Llorente.
  • Telvent appoints Ignacio González Domínguez as Chief Executive Officer.

Madrid, May, 24, 2010.- At its meeting of 24 May 2010, the Board of Directors of Abengoa, S.A. approved the proposal to appoint Manuel Sánchez Ortega as Chief Executive Officer of Abengoa, a role that he will share with Felipe Benjumea Llorente, who is currently Executive Chairman and Chairman of the Board, and who will continue to hold both responsibilities.

The appointment will be effective from 1 January 2011. The designation of Manuel Sánchez Ortega as a director of Abengoa by means of the cooptation procedure if any, or via a General Shareholders' Meeting will take place in the last four months of this year.

Likewise, at its meeting of 24 May 2010, the Board of Directors of Telvent accepted the resignation of Manuel Sánchez Ortega as CEO and approved the proposed appointment of Ignacio González Domínguez as the new CEO of Telvent, effective 1 June 2010.

Manuel Sánchez Ortega will remain as non-executive Chairman of Telvent in order to ensure the ordered transition of functions between both roles.

Abengoa has maintained sustained average annual growth over the last ten years of 17 per cent in sales and 21 per cent in net income, as a result of the continuous efforts of the whole organization.

The shared executive role in Abengoa by Felipe Benjumea Llorente and Manuel Sánchez Oetega will enable this sustained growth to continue to be managed by strengthening the fundamental pillars of technological innovation, sustainability and internationalization. It will also strengthen the management of the organization through our Common Management System, in an effective and uniform way, while ensuring the necessary sources of financing, with greater management capacity, scope and involvement.

Abengoa is a technology company that applies innovative solutions to sustainable development in the infrastructures, environment and energy sectors. It is a listed company with a market capitalization in excess of €1.350 billion (21/05/2010) and its five business groups are present in more than seventy countries: Solar Power, Bioenergy, Environmental Services, Information Technology, and Industrial Engineering and Construction. (

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