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Investing.com -- Shareholders of Banco de Sabadell (SAB) have reelected Chief Executive Cesar Gonzalez-Bueno Mayer as executive director, supporting the bank’s efforts to resist a takeover bid by its larger peer, BBVA (BME:BBVA).
The Spanish bank announced late Thursday that its board had confirmed Gonzalez-Bueno’s position as CEO following his reelection at a general meeting of shareholders.
This move comes as Sabadell is facing a hostile takeover attempt by BBVA.
The resolution to reappoint Gonzalez-Bueno as executive director for a four-year term was one of several proposals presented at the meeting.
In addition to this, shareholders also voted in favor of Sabadell’s new shareholder-return policy. The bank did not provide further details about the other proposals put to vote.
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