Press Release of Banco de Portugal on Banco Espírito Santo
Banco de Portugal has requested that an extraordinary meeting of the Board of Directors of Banco Espírito Santo, S.A. ("BES") be called urgently today, to decide the below:
- a) The co-optation – after the resignations of the members of BES's Board of Directors – of the following members, as proposed by Espírito Santo Financial Group, S.A. ("ESFG") and supported by Crédit Agricole, S.A.: Vítor Augusto Brinquete Bento; João de Almada Moreira Rato; and José Alfredo de Almeida Honório;
- b) The appointment of the three members co-opted to BES's Executive Board, Vítor Bento, João Moreira Rato and José Honório, to become respectively, with the consensus of BES's reference shareholders, Chief Executive Officer, Chief Financial Officer and Deputy Chief Executive Officer, in the latter case as soon as the amendment to BES's articles of incorporation has been approved, as proposed by ESFG on 11 July.
As required, this co-optation will be subject to ratification at BES's General Meeting, called for 31 July.
Banco de Portugal also announces that, as stated in the press release of 20 June, it is waiting for the internal governance model to be submitted for assessment, once it has been approved at the Extraordinary General Meeting. For a positive assessment by Banco de Portugal, the General Meeting must ensure that the members designated for the new corporate body are suitable in particular taking as a reference the requirements specified by law to carry out management and supervisory roles at a credit institution.
Lisbon, 13 July 2014