Advanced Television

New president for Hispasat

March 8, 2012

From David Del Valle in Madrid

Elena Pisonero is to become the new president of satellite operator Hispasat. The board of directors of the company has named the economics specialist as its chosen candidate following her nomination by the Spanish Government.

The Administration controls 25.7 per cent stakes in Hispasat through INTA,  the holding company SEPI and CDTI. The other major shareholder of the company (Abertis, which already controls 46.6 per cent of the shares) is responsible for proposing the CEO of satellite operator (Carlos Espinós, who remains in office).

Pisonero replaces Petra Mateos at a time when the shareholding structure of the company is undergoing extensive changes, with Telefónica pulling out of the operator and Abertis taking over the company.

Telefónica sold its 13.23 per cent stake in Hispasat to abertis telecom, which now controls 47 per cent in the company, with Eutelsat as the second largest shareholder, controlling 27.68 per cent.

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