The Board of Directors of Cellnex will propose to the General Shareholders’ Meeting the appointment of Marco Patuano as the new CEO, something that will take effect on June 4 and that will mean the replacement of Tobias Martinez. With extensive professional experience in the telecommunications sector, he was president of the entity during the years 2018 and 2019.
With a degree in Finance from the Bocconi University of Milan, Patuano has held responsibilities as CEO of the Group (2011-2016), Commercial Director-CCO (2009-2010) and Financial Director (2008-2009).
Patuano’s trajectory passes through its Extensive knowledge of the European telecommunications tower ecosystem and his preferred position for more than 25 years at the helm of the Italian telecommunications company, Telecom Italy. His leadership in business transformation and consolidation projects also moved him to vodafonewhere he held a senior position and was in charge of the operations carried out in Africa, the Middle East and Eastern Europe.
A crucial moment for Cellnex
The appointment of Patuano as the new CEO of Cellnex represents the opening of the company to new markets. Thus, apart from its important presence in Spain, Italy, the Netherlands, France and the United Kingdom, it is expected to expand to Poland, Austria, Switzerland and Portugal. All this is possible thanks to a succession of major investments that seek to improve the company’s telecommunications infrastructure network.
It is expected that he will put all his experience in the European and Latin American markets at the service of the company, as well as all the knowledge acquired on the boards of institutions such as the GSM Association (GSMA), Autogrill, Atlantia and WAC Ltd, among others.
The user demand for connectivity It continues to grow and Cellnex is forced to update itself if it wants to position itself at the forefront in the race to dominate the market in an increasingly competitive and demanding sector. His strong commitment to innovation and investment in the latest technologies has led the company to lead the telecommunications infrastructure market in recent years.
Reactions to his appointment
Following the appointment of Patuano, the president of the entity, Anne Bouverot, has ensured that it is the result of an exhaustive and careful selection process, since it has a deep knowledge of the dynamics of the telecommunications sector and the European market. In the same way, he has assured that he will work with Martínez during the first weeks to guarantee a smooth transition.
On another note, Patuano himself has been very satisfied with his new appointment and hopes to have the support of the Shareholders’ Meeting to focus on achieve organic growth and higher investment grade.
Other Important Agreements for Your Organization Chart
The aforementioned General Shareholders’ Meeting, to be held at the Madrid College of Architects, will bring with it the proposal to increase the number of members from 11 to 13, appointing Dominique D’Hinnin already Oscar Fanjul as new independent directors.
Fanjul has vast experience in the management of large multinationals and extensive knowledge of the business world, and is currently Vice President of railway and Counselor of Marsh & McLennan Companies. In addition, he has been vice president of omegacapital.
For his part, D’Hinnin is president of the Council of Eutelsat Communications since November 2017 and member of its Board since November 4, 2016. He is also part of the Board of Directors of the French company edenredfrom the French Vantiva and the Belgian distributor Louis Delhaize S.A..
Economic balance of the first quarter
Cellnex Telecom has closed the first quarter of 2023 with revenues of €985 millionwhich represents an increase of 19%, that is, 15% more if compared to the same period of 2022 and if the income from the re-invoicing of energy to customers is excluded. Likewise, the Adjusted EBITDA grew to 730 million euros, 15% more, with leveraged free and recurring cash flow being 336 million euros, 12% more.
All this is the result of the consolidation of the activity of its broadcasting infrastructureswhich contributed 5.8%, their infrastructure services for mobile telecommunications operators (TIS business)which generated income of 91.3%, the businesses of security and emergency networks and solutions for intelligent management, which contributed 2.9%. He organic growth in those places where Cellnex is present it was 6.8%.
