Merlin rules out the dismissal of Ismael Clemente and defends the unit within its board of directors

• Crisis at the top Ismael Clemente: "Santander wants to control the company and we get in the way"

The

board of directors

, after meeting in an extraordinary way on Monday afternoon to discuss the possible dismissal of its CEO, Ismael Clemente, conveyed a message of

, dissipating any crisis in the governance of the Socimi and discarding his relief at the head of the company.

However, as reported to the

, the company unanimously adopted an agreement to reform its governance area, with the aim of improving it "in the interest of Merlin and all of its shareholders."

"The board of directors, its chairman and its CEO expressly express their rejection of the content of the news that appeared in the different media in recent days, and, in particular, those

" says the statement.

In addition, both the board as a whole and its chairman and its CEO in particular reiterated their "mutual respect and their express decision" to put in place precise mechanisms and concrete measures to achieve management in accordance with the best governance of society.

The shares of the Socimi sank this Monday more than 6% in the Stock Market

, after the division that

within the board of directors regarding the management of its CEO and about his possible replacement at the head of the company.

The management team, headed by the corporate general director,

, released a statement before the start of this meeting, defending that the company "does not deserve abusive and feudal behavior on the part of minorities", who would seek to exercise majority control of the company. signs "stealing from the rest of the shareholders their participation in decision-making and thus saving the payment of the corresponding premium."

For this reason, the management team stated that if any shareholder wishes to control Merlin, they will have to formulate the corresponding public offer

according to the letter released to the press.

Likewise, in the last meetings of the board of directors these discrepancies were already evident.

Part of the highest governance body wanted to promote the application of the best corporate governance standards in the company, as corresponds to an

firm

as well as to establish more measured risk control and remuneration policies for its executives and in accordance with the context current.

Finally, that is what was agreed at the extraordinary meeting, to promote good corporate governance practices, but without requiring, at least for now, the dismissal of Clemente.

Likewise, to dispel doubts, the council conveyed a message of unity.

SANTANDER'S ROLE

An analysis by Sabadell recalls that

, to which the directors attribute having raised Clemente's dismissal, has three of the 13 seats on the Socimi's board of directors and whose president,

, was also appointed by this entity .

In this sense, Merlin's main shareholder is Banco Santander with 22% of the capital, followed by businessman

(Nortia), with 8%, and

, with 4%.

According to the criteria of The Trust Project

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