Endesa Picks Juan Sanchez-Calero as New Chairman -Source

MADRID--Endesa SA's (ELE.MC) board of directors on Monday chose Juan Sanchez-Calero as its new chairman, according to a source familiar with the matter.

Mr. Sanchez-Calero is set to replace Borja Prado, who has held the chairmanship for 10 years, after the company's shareholder meeting on April 12.

The Spanish electric utility company, in which Italy's Enel SpA (ENEL.MI) holds a majority stake, last month said that Mr. Prado couldn't be re-elected chairman after internal regulations were put in place limiting the post's tenure to 10 years maximum.

Mr. Sanchez-Calero, a lawyer and a professor of commercial law at the Complutense University of Madrid, will be formally elected chairman at the board's meeting, also on April 12.

Write to Alberto Delclaux [e-mail] and Carlos Lopez Perea [e-mail]

Translated by Cristina Roca

This story was translated in whole or in part from a ​Spanish-language version initially published by EFE Dow Jones, a partner of Dow Jones & Co.

(END) Dow Jones Newswires

March 11, 2019 12:00 ET (16:00 GMT)

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