In the Ordinary General Meeting of Dia Shareholders, recently held, important decisions have been made that will affect the course of the supermarket chain. Among them, it stands out The approval of a capital reduction of 290.3 million euros y the change in the presidency of the Board of Directors.
Capital reduction to clean up and rebalance
The capital reduction approved by Dia seeks to «clean up and rebalance» the composition of the company’s net accounting heritage, influenced by the accumulated results in previous exercises. Specifically, it has been agreed to reduce the share capital by 290.3 million euros, from 580,588,980 euros to 290,294,490 euros, by decreasing the nominal value of ordinary shares from 10 euros to 5 euros per share.
Reduction objective
This measure aims to strengthen the financial structure of Dia and prepare it for future challenges and growth opportunities in the market.
Change in the Presidency of the Board of Directors
Benjamin J. Babcock has concluded his mandate as president of the Dia Administration Board, being replaced by Alberto Gavazzi.
Statements by Alberto Gavazzi
After assuming the presidency, Alberto Gavazzi has expressed his confidence in the solid day base and his ability to capitalize on the growth opportunities that arise in the market. He highlighted the successful process of transformation of the company and its preparation for the future.
Babcock continuity on the Council
Despite leaving the presidency, Benjamin J. Babcock will continue to be part of the Council as a representative of Letterone, the main day shareholder with 77.7% of the share capital. Babcock undertakes to continue contributing value to the company since its new position in the Council.
Strengthening of the Board of Directors
The evolution of the Dia Board of Directors, which now has 10 members, reinforces the governance of the company and prepares it to achieve the objectives of the Strategic Plan 2025-29, ‘growing every day’.
Appointment of new independent counselors
In the Board of Shareholders, the appointment of RUT Aranda Carmona, Sara María Díez Jáuregui and María Paloma Pérez Sánchez has been approved as new independent day councils, in a movement that seeks to enrich the diversity and experience of the Council.