BPI’s shareholders meeting today at the General Meeting did not approve a constitutional amendment that would allow the renewal of Fernando Ulrich as president of the bank. Isabel position of Santos was fundamental for the lead.
The bank’s statutes prevent the bank’s managers have more than 62 years and as Ulrich is 63 years old and is in the final term, need to this rule was changed to be reappointed.
the administration made this proposal, but the vote in the AG was insufficient. According to a statement sent to the Portuguese Securities Market Commission, the removal of this point of the statutes was voted for by 63.68% of the votes of AG when a qualified majority of 66.67% were necessary.
the possibility of increasing the bank’s capital to 500 million euros, only by decision of the administration, also did not pass. There was favorable vote of 63% of shareholders but would also be needed 66.67% of the vote.
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