The relays at the top of large companies usually bring with them a progressive cascade of departures in the rest of the management echelons. In the case of Cellnex, a company run since its creation by a very close management core, the theory was destined to be verified, even more so when the commitment to relieve Tobias Martinez as CEO was Marco Patuanoan external manager instead of the internal replacement promoted by the company’s managers.
Thus, this Sunday, the telecommunications tower company and one of the heavyweights of the Ibex 35 has informed the National Securities Market Commission (CNMV) that its financial director, Jose Manuel Aisa, will leave the company on October 31 to undertake “other professional projects”, after presenting his resignation. The company will initiate a process to find relief.
Aisa was one of the directors of abertis which left the infrastructure manager to set up Cellnex and co-directed the accelerated growth of the company with Martínez, which went from beginning its journey on the stock market with 2,000 million euros of capitalization to exceeding 40,000 million euros a year ago in less than eight years (it currently has a capitalization of 27,400 million euros). .
With the company turning its strategy away from large purchase operations, in which as director of M&A Ice has played a key role, the manager has decided to step aside. The manager’s departure occurs after a hectic replacement in which, after the resignation of Martínez, TCIa key shareholder, prompted the departure of the Chairman of the Board of Directors and other directors to accelerate the replacement at the helm of the company.
the company is Focused on reducing your debt and achieve investment grade next year at the latest to facilitate their access to financing. In its results presented last week, the company indicated that it expects to reach its first profits at the end of the year and placed the debt below 18,000 million euros. In fact, the firm announced the creation of a new committee on its board focused on capital allocation, that is, deciding the areas in which it will invest more intensively.