Popular convenes meeting on the 20 February, to appoint as president to Saracho – Investing.com Spain

MADRID (Reuters) – Banco Popular (MC:) announced Wednesday that it will be held on February 20 in second call the extraordinary meeting at which it is intended to name Emilio Saracho as the new president of the entity.

Popular, regarded as the weak link in the Spanish banking sector, announced on 1 December its intention to replace Angel Ron by Emilio Saracho after shareholders revolted after the sharp drop in the value of a reasoned, among other things, by the problems arising from their exposure to the property market.

Subsequently, the board of directors unanimously agreed to convene the board in February to replace Ron.

the board is also planning to appoint Saracho and Pedro Larena as executive directors, and Jaime Ruiz Sacristan, as proprietary director.

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