As part of the generational renewal of the Mota-Engil Group, the current President, Antonio Mota, and the Chairman of the Executive Committee, Gonzalo Mora Martínez, will leave their positions, on their own initiative – and at the next construction meeting of the company’s board of directors, it will be proposed to appoint Carlos Mota Santos to group both functions, I am informed. company in the current situation to CMVM. Both of them will become vice-chairmen of the board.
Carlos Mota Santos is the nephew of Antonio Mota and is one of the vice-presidents of the company’s executive committee.
“Engineer Carlos Mota Santos, member of the third generation of the founding family and reference shareholder of the group, is a professional with more than 20 years of practice, deep knowledge of the business and activities of the group, having started technical careers in after obtaining his degree in civil engineering.”
Also according to the document, Carlos Mota Santos “was performing functions of high responsibility in all areas of the business.”
The reasons for this change are explained in the statement itself. “After the change in the shareholder structure, verified in 2021, and the approval of the Strategic Plan for the period 2022-26 – Building 26 – and in a coordinated, consensual and fully shared manner by the reference shareholders of the group, and through them the payer, Engineer Antonio Mota and Dr. Gonzalo Mora Martínez have decided Resign from their current duties to begin the process of generational change and renewal of senior management of the group.”
Despite these resignations, the Group informs that Antonio Mota and Gonzalo Mora Martínez “will remain firmly committed to the development and control of the Group, and henceforth in a greater aspect of supervision and strategy, as Vice-Chairmen of the Board of Directors, actively participating in its major designs, contributing immediately to the implementation of the plan The strategy for Building 26, whose first year of implementation was successful and which promises a very promising future.”
“Under the legal conditions, a meeting of the Board of Directors will be held next January, with the aim of approving the proposals referred to here, as well as the decisions that tend to reconfigure the Board of Directors as well as the Executive Committee, which will be reported in due course,” says the group, which says It expects that process to be completed by the end of this month, for these regulatory changes to take effect from February 1, 2023.
CCCC Entrance
Remember that on May 10, 2021, Mota-Engil received a strategic partner, China Communications Construction Corporation (CCCC), which acquired 23% of the company from the Mota family holding company. The following month, CCCC, through Epoch Capital, announced an increase in its qualifying holding from 23.16% to 32.41% in Mota-Engil’s capital, a position it still holds, leaving the Mota family with 40% through FM – Control Society.
The Mota-Engil Group, which has always been under the control of the António Mota family, has a second major shareholder that assumes the title of the fourth largest construction company in the world.
CCCC is 59% owned by the state-owned China Communications Construction Group and under the supervision of the State-owned Asset Control and Administration Council (SASAC), a special commission under the authority of the Chinese state.
The change in the shareholder structure of Mota-Engil affected Strategic Plan 2022-2026filed in November 2021 – which projects sharper growth in its environment business, infrastructure concessions and industrial engineering services (such as mining contracts), which the group expected to weigh, on a five-year horizon, more than its traditional engineering and construction activity in EBITDA and net income.
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