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ded from 11 to 15 members. Grupo Carso
has eight seats on the Board (including the
two executive directors), Esther Koplowitz
has four, and the other three directors are
independent, as established in the agree-
ment signed in February between the two
largest shareholders of FCC, the Citizen
Services Group.
Addressing the shareholders, Esther Alco-
cer Koplowitz, Chair of FCC said: “aware
that only by adapting to new market de-
mands could we advance, we have un-
dertaken major restructuring of our orga-
nisation and the Group’s various business
units.” She also referred to the “complex
debt renegotiation and another equity is-
sue, which was successful, all of which
was only achieved thanks to the deter-
mined and valiant support of our largest
shareholder, Carlos Slim, and to Esther
Koplowitz’s generosity and love of the
company.”
In her opinion, “their shared will and deter-
mination to pursue a better future for the
FCC Group give us the necessary strength
to address the challenges that this promi-
sing new stage of our existence will bring.
We will face these challenges with the
same capabilities that have underpinned
our business success to date: adaptability
to change, and agility in decision-making.”
The Chair of FCC expressed her conviction
that “we have a great opportunity ahead,
and we are approaching it with confidence
and determination. In this endeavour, we
are supported by the hard work and skill
of our most vital asset: our people. With
the respect and trust of our clients and the
commitment of all concerned, I am con-
vinced that we will devise the most relia-
ble formula for approaching the future with
greater confidence.”
It was also the first Shareholders’ Meeting
to be addressed by Carlos M. Jarque as
FCC’s CEO. He discussed the company’s
performance in 2015, which he described
as “a year of sweeping changes”. Jarque
focused on three areas on which the com-
pany worked last year: finance, operations
and governance.
In the financial area, the CEO noted the
€709.5 million equity issue that was ap-
proved in December 2015 and paid up in