March, 28th 2012
Marcelino Fernández Verdes, appointed as a new member of the Executive Committee and Chief Operating Officer of Hochtief
The new COO of the German construction company is joining the Executive Committee as the Group’s head of operations
The Board of Directors of Hochtief AG has decided to incorporate Marcelino Fernández Verdes to the Executive Committee (Vorstand), appointing him as COO, the head of group operations.
Hochtief’s Executive Committee (Vorstand) is a body consisting of three members. Besides the newly appointed COO, Marcelino Fernández Verdes, it includes the CEO, Frank Stieler, and the CFO, Peter Sassenfeld.
Among his functions and taking advantage of his extensive international experience, the new COO will manage the risk control of all of the Hochtief AG Group’s operations.
Marcelino Fernández Verdes was thus far the chairman of Dragados and the head of the concessions and environmental services area at ACS Group. He has extensive experience in the construction sector, having held several positions of responsibility, first as Chairman and CEO of ACS Proyectos, Obras y Construcciones and subsequently as Chairman and CEO of Dragados.
In the latter position he achieved substantial international development, reaching the best ratios in the industry. The incorporation of Marcelino Fernández Verdes will significantly contribute to strengthening Hochtief as a world leader in the infrastructures construction sector.
Manfred Wennemer, Chairman of the Board of Directors of Hochtief, declared: “Marcelino Fernández Verdes will provide us with more experience in the field of international construction. Under his management, Dragados, the ACS Group construction company, has become a company with very high profits and its international sales have grown fourfold, reaching 2 billion euros in just 4 years, most of which was generated in the Americas.”
Marcelino Fernández Verdes will commence his new stage at Hochtief AG starting 15 April.