Agbar CEO Resigns Amidst Tensions with Main Shareholder Veolia

Angel Simon, the current CEO of Criteria Caixa, has announced his resignation from the presidency of Agbar (Aguas de Barcelona) after 22 years of leading the company. Simon had originally planned to leave in January but was asked to stay until the summer by Veolia, the main shareholder of Agbar. However, recent tensions between the two parties led to his early departure.

Simon cited his desire to focus fully on his position as chief executive of CriteriaCaixa as the reason for his resignation. Isidro Fainé will be taking over as president of Agbar in Simon’s absence. The catalyst for Simon’s early departure was a letter from Veolia accusing Criteria Caixa of spreading false information about Veolia’s intentions to sell Agbar. Despite seeing no basis for Veolia’s claims, Simon decided to end the working relationship with the French group.

It is worth noting that CriteriaCaixa has been a shareholder of Agbar since 2014, maintaining a 15% stake and two representatives on the Board of Directors. Simon’s decision to part ways with Veolia was influenced by recent tensions and accusations, prompting him to prioritize his new responsibilities and avoid further conflict.