Actividades de Construccion & Servicios SA Chairman Florentino Perez said Marcelino Fernandez Verdes, chief executive officer of German subsidiary Hochtief AG, will succeed him at the helm of Spain’s largest builder.
Chairman Ignacio Galan of Iberdrola SA, the world’s biggest producer of renewable energy, has battled for five years to limit the influence of his largest investor. Galan is about to lose one of his best tools.
Actividades de Construccion y Servicios SA’s chief executive officer, Florentino Perez, traveled to China recently in search of Chinese investors to participate in business ventures, El Confidencial reported, citing unidentified people in banking.
Hochtief AG Chief Executive Officer Herbert Luetkestratkoetter plans to meet Florentino Perez, chairman of Actividades de Construccion & Servicios SA , next week to discuss an investor agreement, Financial Times Deutschland reported, without saying how it got the information.