ACS increases control of Hochtief

By Helen Wright29 March 2012

Marcelino Fernández Verdes

Marcelino Fernández Verdes

Chairman and CEO of construction, environment and concessions at Spanish contractor Actividades de Construcción y Servicios (ACS) Marcelino Fernández Verdes will take the reins as chief operating officer (COO) of Hochtief on 15 April.

Mr Fernández Verdes was also previously chairman and CEO of ACS subsidiary Dragados and has been a member of Hochtief's supervisory board for nearly five years.

His appointment as COO of Hochtief is significant as ACS gained majority control of Hochtief's shares last year following a bitter hostile takeover battle.

Former Hochtief COO Martin Rohr left the company at the end of 2011, making use of his contractual right of termination following the takeover by ACS.

He followed a stream of senior Hochtief executives who left the company in the wake of ACS takeover, including CEO and executive board chairman Dr Herbert Lütkestratkötter, who announced his retirement in April last year.

Hochtief CFO Dr Burkhard Lohr, board member and head of Hochtief Concessions and Hochtief Asia Pacific Dr Peter Noé also resigned last year, together with Hochtief Solutions CEO Henner Mahlsted and Hochtief Solutions CFO Heiner Helbig.

ACS said Mr Fernández Verdes would be replaced on the Hochtief supervisory board by Francisco Javier Garcia Sanz, a member of the executive board of Volkswagen.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Construction Europe Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
More News from Construction Europe
Skanska raises the climate bar
Swedish construction giant now targeting 70% carbon emissions reduction by 2030
Peri launches digital concrete monitoring kit
Temperature Monitoring and Concrete Maturity Kit takes temperature readings from different points in concrete
ISG starts construction of ‘UK’s first gigaplant’
Britishvolt manufacturing facility in Northumberland will produce 300,000 low-carbon battery cells for automotive sector
CONNECT WITH THE TEAM
Mike Hayes Editor, Construction Europe Tel: +44 (0)1892 786 231 E-mail: mike.hayes@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA