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Dimas Gimeno calls for the incorporation of more independent directors in the English court

The President of the department stores includes several items on the agenda that pose a strategic plan and the exit to the stock market

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Dimas Gimeno calls for the incorporation of more independent directors in the English court

The president of El Corte Inglés, Dimas Gimeno, will propose this Wednesday to board of Directors that is held in Madrid incorporation of independent directors. To date, group only has an independent counselor, Manuel Pizarro, who entered highest management body of company at time of Isidoro Álvarez. In addition, it will propose a strategic plan in which it contemplates company's exit to Bolsa. The meeting of Council arrives at a moment of internal tension before familiar confrontation that one lives by control of department stores between Gimeno and its cousins, Marta and Cristina Álvarez Guil, advisers of group. Sources close to se criticize that Gimeno tries to introduce changes now, after three and a half years in which he was in presidency "without presenting projects".

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The Council of English Court (ECI) will discuss wher to add independents and number of m. The petition responds to application of regulation on good corporate governance and is part of one of items on agenda that Gimeno incorporated into initial call, which was only reduced to formulation of annual accounts of year ended in February and on which, precisely, Gimeno meditates wher he will approve or not.

In addition, Gimeno will present a plan for future and a strategic plan, whose culmination is exit Bolsa, and request a report from Audit Committee on results of research that is being carried out by EY on Department of Security of company following Of some anonymous who denounced alleged irregular practices that would involve several managers. In this regard, EY, who is also auditing firm of department stores, has asked ECI clarifications on security accounts to reach a conclusion, so Council on Wednesday will reveal little information.

This Council is ordinary and re is no provision for any debate on dismissal of Gimeno at head of group, a matter which has been dismissed since last October of its executive tasks. To this end, re will be a next extraordinary council that has been requested by four Executive directors ( two CEOs, Jesús Nuño de la Rosa and Víctor del Pozo, and old guard formed by Florencio Saga and Carlos Martínez Echevarría) and It's expected for June. Although y are not part of petition, this group is joined by sisters Marta and Cristina Álvarez Guil, daughters of Isidoro Álvarez and Premia de Gimeno.

Sources close to m have criticized that "Dimas has not presented any project in three and a half years and now that is seen with a foot and a half out of presidency raise a broom council in which he puts a plan for future, a strategic plan and exit to stock market."


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