Naturgi successfully held its shareholder meeting in Madrid today without any signs of dissent, despite months of internal tensions among its main investors. One of the key topics discussed was the group’s remuneration policy, with particular focus on the salary of Chairman Francisco Raines, which had been questioned by top international voting advisers ahead of the meeting.

Despite challenges to Raines’ leadership, including calls to change Naturgi’s management model, CriteriaCaika, the company’s largest shareholder and investment arm of Fundacion La Caika, closed ranks with Reins at the meeting. With 27% ownership of the gas company, CriteriaCaika released a statement expressing explicit support for Naturgi’s transformation plan and affirming its commitment as a long-term investor to the management team led by Raines.

Raines and Isidro Fein have maintained a close relationship since Raines took over management of Naturgia in 2018. Despite facing external factors such as gas and electricity prices and liquidity problems resulting from the takeover bid, Naturgi’s management received strong support at the Shareholders’ Meeting.

CriteriaCaika has consistently supported Raines, highlighting the company’s positive results and strategic direction. The stock market performance was affected by these external factors but despite these challenges, Naturgi demonstrated resilience with 90% present at the quorum and overwhelming approval of key proposals.

In conclusion, this shareholders meeting showcased Naturgi’s ability to overcome internal tensions and external challenges with CriteriaCaika unwaveringly supporting Reins underlining confidence in the company’s strategic direction and management team.

By Samantha Johnson

As a dedicated content writer at newspuk.com, I immerse myself in the art of storytelling through words. With a keen eye for detail and a passion for crafting engaging narratives, I strive to captivate our audience with each piece I create. Whether I'm covering breaking news, delving into feature articles, or exploring thought-provoking editorials, my goal remains constant: to inform, entertain, and inspire through the power of writing. Join me on this journalistic journey as we navigate through the ever-evolving media landscape together.

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