CaixaBank replaces Lobo Xavier as BPI 'vice' after election to EDP
CaixaBank, the only shareholder of BPI, replaced António Lobo Xavier as vice-president of the bank's board of directors with Cristina Rios de Amorim, keeping him as a member, after the manager was elected to a position at EDP.
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In a statement released today, BPI reported that CaixaBank decided to "appoint Cristina Rios de Amorim as vice-president of the Board of Directors, replacing António Lobo Xavier, who remains a member" of this body.
According to the note, "the change is due to the fact that António Lobo Xavier submitted a request to accumulate functions, which was admitted to be compatible with the functions of member of the Board of Directors and the Audit Committee" but not "necessarily with those of vice-president of the Board of Directors".
On April 10, António Lobo Xavier was elected president of EDP's General and Supervisory Board for the 2024-2026 term.
CaixaBank also decided to "ratify the co-optation, approved by the Board of Directors of Banco BPI, S.A. on March 26, 2024, of Maria Inês Martins Valadas as a member of the Board of Directors and member of the Risk Committee until the end of the current term (2023-2025), replacing Sandra Maria Santos who submitted her resignation".
According to the bank, the start of the functions of this new non-executive director is subject to the necessary approval of the supervisory authorities.
Finally, BPI's shareholder decided to appoint Maria Inês Martins Valadas as a member of BPI's Audit Committee, until the end of the current term (2023-2025), also replacing Sandra Maria Santos. Also in this case, "the start of the functions of this new member of the Audit Committee is subject to the necessary approval of the supervisory authorities", they conclude.
Read Also: Lobo Xavier elected president of EDP's General and Supervisory Board (Portuguese version)
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