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Abertis says Caixabank's Isidro Faine has resigned from board

Published 18/05/2015, 18:07
© Reuters. CaixaBank's Chairman Isidro Faine speaks during news conference where the bank presented its 2014 results at its headquarters in central Barcelona
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MADRID (Reuters) - Spanish infrastructure group Abertis (MC:ABE) said on Monday Caixabank chairman Isidro Faine had resigned from its board.

The company said in a statement to the Spanish stock exchange regulator Faine had given up his board seat, representing shareholder Caixabank due to a conflict of interest under a 2014 law regulating banks.

The law does not allow a bank director to hold more than four non-executive roles in other companies.

As well as Abertis, Faine is on the boards of Telefonica (MC:TEF), oil major Repsol (MC:REP) and Suez Environnement (PA:SEVI) and last week joined Gas Natural (MC:GAS).

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