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FCC reports
on the process of replacing
its first Chief Executive Officer (C.E.O.)
In view of the notification sent to the Presi-
dent of the Board of Directors by the 2nd
Vice President and CEO of the Company,
Mr. Juan Béjar Ochoa Adviser, expressing
his intention to exercise change of control
clause included in the contract to provi-
de services linking the company with the
CEO, two meetings of the Appointments
and Remuneration Committee and the
Board of Directors of the Company on
that have taken place in accordance with
the procedures provided for in the Bylaws
and Regulations of the Board of Direc-
tors has dealt with the process of repla-
cing the 2nd Vice President and CEO of
the Company, Mr. Juan Béjar Ochoa Di-
rector, as first executive of the company.
On a proposal of the Appointments
and Remuneration Committee, the
Board of Directors of the Company
has adopted the following resolutions:
(l)
Hiring a search firm for executives at
international level (a “head-hunters”
firm) to carry out a process of finding
potential candidates who fit the profile
for the position of first chief executive
officer (C.E.O.) of FCC with the purpo-
se of replacing Mr. Juan Béjar Ochoa
as current chief executive of the com-
pany (CEO). The head-hunters firm
should propose candidates with pro-
ven international experience in all or
some of the various businesses that
today FCC are being carried out by
FCC. The selection process should
be implemented urgently and in any
case, it should have to be comple-
ted before next September 30, 2015.
(ll)
To allow the process of succes-
sion to the Chief Executive Officer
(C.E.O.) to occur in the most orderly
and planned possible way, the cu-
rrent Chief Executive will remain in
the company until no later than 30
September. FCC having the power to
anticipate the departure of the CEO.
(lll)
The terms of the resolution of the
contract for the provision of servi-
ces linked to the Company’s CEO,
have been approved by mutual
agreement This agreement inclu-
des the payment to the CEO, by
contract termination, and also the
compensation for non-competition
agreement, of a total compensation
amounting to € 8,375,000 gross.