TAP says ‘chairman’ and executive president are still in office, without knowing date of his departure

According to a message sent this Thursday by the company to the TsVM.

“Despite the alleged intent of the TAP shareholder, the PCA [presidente do Conselho de Administração, ‘chairman’] and PSE [presidente da Comissão Executiva]since, to the best of TAP’s knowledge, the shareholder has not yet made any decision, they continue to hold their positions in accordance with the provisions of the law, performing the duties inherent in their respective positions, ”says the clarification sent by TAP to the Committee on the Securities Market (CMVM) after the publication report of the General Inspectorate of Finance (IGF) on compensation to Alexandra Reis in the amount of half a million euros.

In addition, the airline refers to the fact that “there is no reason regarding the above-mentioned intention to dismiss the SPS and PSE and replace them for a good reason.” […] information on the specific procedures to be adopted, or on the specific deadlines envisaged for their adoption by the shareholder”.

According to the clarification sent to the market, TAR has not yet been notified of “possible other changes planned by the shareholder in the composition of its governing body”, whose mandate is valid until 2024.

With regard to the refund determined by the IGF, of about 450,000 euros out of the 500,000 that Alexandra Reis received for the early departure of the airline, “TAP is already taking the necessary steps to return the overpaid amount without prejudice to the event that the shareholder legally gives specific instructions to do so. about which will be fully implemented.

According to a message sent to the market, TAP was informed through a message sent by the Directorate General of the Treasury and Finance (DGTF) that “procedures leading to the dismissal for good reason” of the President will be launched immediately. .. Board of Directors Manuel Beja and President of the Executive Committee Christine Urmier-Widener “of all managerial functions performed in the companies of the TAP universe.”

At a press conference at the Ministry of Finance on Monday, Finance Minister Fernando Medina and Infrastructure Minister Joao Galamba presented the findings of the IGF audit, which was asked to review the termination process with Alexandra Reis and the corresponding €500,000 compensation.

The IGF concluded that the agreement reached was invalid, and the government decided to seek refunds and dismiss Manuel Bejo and Christine Urmier-Widener, stating good cause.

At the end of December, less than a month after taking office as finance minister, Alexandra Reis left the government after Correio da Manhã revealed that she had received half a million euros to leave TAP, after which she became president of NAV. Portugal – Navegasao-Aerea.

The case also led to the resignations of former Infrastructure and Housing Minister Pedro Nuno Santos and Secretary of State for Infrastructure Hugo Mendez.