Spanish power utility Endesa names new IR chief

Madrid – Endesa, Spain’s biggest electricity supplier and a big power player in Latin America, has named Javier Rodriguez Soler head of its institutional relations department. Soler succeeds Miguel Temboury, who has been promoted to deputy control manager.

Soler will lead IR in Spain, Latin America and across Europe, where Endesa has a growing market presence. He will report to Chief Financial Officer Jose Luis Palomo as head of a 12-strong department in Madrid. Patricia Fernandez Salis and David Raya, IR subdirectors in Spain and the United States respectively, will report to Soler.

Soler will continue to handle Endesa’s IR mandate, which requires him to inform financial analysts and investors about the company’s strategy and future goals. He will also lead IR trade shows in Europe and the US.

Soler will also oversee Endesa’s IR team in Latin America where the company derives about 40% of revenues, mostly through subsidiaries Endesa Chile and Argentina’s Enersis. Jaime Montero and Susana Rey head IR at Enersis and Endesa Chile, with departments of 3 and 4 employees respectively.

Soler takes his seat at a time of expansion for Endesa, which wants to extend its

tentacles in Europe, particularly in Italy.

The company recently launched a takeover bid for Italenergia Bis, which holds 62% of Italy’s second-largest generator Edison, in a deal worth an estimated €8 billion.

It is also facing charges of energy-price manipulations in Spain and Latin America and has been feuding against the Argentine government’s decision to cut energy prices while requiring foreign utilities to boost local investments.

Soler will also have to deal with growing rumours that Endesa may merge with compatriot gas company Gas Natural or another utility this year as Spain gears up

for energy consolidation.

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