Re-election of Luis Gallego as executive director


The shareholders meeting of International Airlines Group (IAG), to which Iberia, British Airways, Vueling, Aer Lingus and Level belong, which will be held in Madrid on June 26, will analyze the proposal for the application of the results corresponding to the financial year 2023 , although it has not yet revealed whether it will resume the dividend.

The CEO of IAG, Luis Gallego, assured a few weeks ago that taking into account the positive trend that can be seen for the company in 2024, he hoped to recover the distribution of profits among its shareholders “soon.”

“If everything continues as it is, we will soon announce the way in which we are going to remunerate the shareholder, either through dividends or in the way in which the board determines to be the most appropriate,” Gallego explained during his participation in the ‘Wake Up Spain’ conferences

The company already announced at the end of November at its Capital Market Day (CMD) that the return of the dividend was among its plans, but avoided giving specific dates. “Right now, as things are, we are positive and we see that the year is evolving very positively,” he justified.

Next June, the company’s shareholders will also vote on the re-election of Luis Gallego as executive director, as well as the re-election of Javier Ferrán as independent non-executive director.

During the meeting, the board of directors will submit the re-election of all directors with the exception of the proprietary non-executive director Giles Agutter, who will not stand for re-election. To fill this vacancy, the board of directors will submit the appointment of Bruno Matheu as proprietary non-executive director in accordance with the shareholder proposal Qatar Airways Group.

According to the agenda of the meeting transferred this Wednesday to the National Securities Market Commission (CNMV), the proposals for voting also include the approval of the annual accounts and management reports of the company and its consolidated group. corresponding to the fiscal year 2023, as well as the approval of the management of the company’s board of directors.

The authorization to the board of directors to increase the share capital and issue securities will also be put to a vote, as well as excluding the right of pre-emptive subscription in relation to these movements of capital and debt up to a maximum of 10% without any restriction and up to another 10%. additional, which must be allocated to a specific acquisition or capital investment.