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22/10/2009
Martifer informs about change to the composition of the board of directors and executive committee

The Board of Directors of Martifer SGPS announces that it has decided in today’s meeting:

1. The Executive Board Directors Mr. José Manuel Alves Rodrigues and Mr. António Manuel Serrano Pontes have resigned from the Board of Directors, and have been appointed as Board of Directors of Metallic Construction and Energy Systems Business Areas, respectively;
2. Mr. Carlos Martins will leave its position of CEO of Martifer SGPS and will occupy the position of Chairman;
3. Mr. Jorge Martins was nominated CEO of Martifer SGPS;
4. The Executive Committee will be composed of Mr. Jorge Martins and Mr. Mário Couto, and the number of members will change from 5 to 2.

We highlight that:

- These changes aim to increase empowerment of Business Areas with specific executive committees, in order to achieve a quick decision-making process and to be close to the Business Areas. Mr. Jorge Martins and Mr. Mário Couto will have the supervision function.
- The separation between Chairman and CEO and the change of the Executive Board Directors from 9 to 7 members are in line with the best practices of Corporate Governance.