Thursday, November 6, 2008
Ono dismissed Galdón to force more cuts costs
Vote Result 0 votes mediate "to Eugenio Galdón as company president and appointed to replace him with Joseph María Castilian, former deputy chairman of Inditex. The company took this decision under pressure from foreign partners, venture capital funds in their majority, who want a more aggressive management to cut costs in order to recoup their investment. The news on other websites Websites in Spanish in other languages Spanish shareholders, led by Multitel and Santander, opposing the relay, but abstained on the appointment of Castilian. The company reported that it wants to boost the commercial part, but has no plans to sell the company or to expand the regulatory dossier for 1,300 employees. But in the bottom of the relay late discontent venture capital funds for the low return on investment, as they have not achieved their goal of cleaning up and sell the signing, following the purchase of the cable business of Auna.