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Lisbon,June.23,2021(Lusa)-The Euro2020 match against France tonight is on most front pages,along with the billions of the recovery fund.


Lusa - Business News - Portugal: TAP chairman steps down 'tranquil'

Lisbon, June.9,2021(Lusa)-The outgoing chairman of the board of directors of TAP said he left with the "tranquillity of duty fulfilled" in a letter to employees, explaining that the departure results from the lack of a combination of wills to continue between himself and the state.

"I will leave with the tranquillity of duty fulfilled, of having always been loyal to TAP, to the Portuguese state, as its major shareholder, and to Portugal," said Miguel Frasquilho in a farewell letter sent to TAP workers, to which Lusa had access.

Miguel Frasquilho will cease his duties as chairman of the TAP group at the next General Meeting scheduled for 24 June, with Manuel Beja already proposed to replace him.

"For me to continue in the functions that I have been performing, it would be necessary for there to be a combination of wills between myself and the state shareholder. Unfortunately, this combination of wills did not exist," explained the chairman who took office in 2017.

In the letter, Miguel Frasquilho thanked the Portuguese taxpayers "who, with their resources, at a challenging time for the country, made it possible for TAP to survive, allowing us to work towards a future that, I have every confidence, has all the conditions to be bright.

He recalled the first two and a half years at the head of the TAP group, when "coexistence with the private shareholders and their representatives was always very challenging and enriching".

In the last year and a half, marked by the pandemic, Frasquilho stressed that the "priorities were to save TAP, the largest possible number of jobs and, through the very tough but indispensable Restructuring Plan delivered in Brussels, seek to ensure the future, sustainability and profitability of TAP".

At the beginning of this year, Miguel Frasquilho was part of the TAP and government team that negotiated with the trade unions and workers' representatives temporary company agreements until 2024, which he considered "pioneering and allowed us to ensure a climate of tranquillity in the labour market" so that the airline might be, in the coming years, "what it has always been: a fundamental instrument of economic policy at the service of Portugal and the Portuguese".

Finally, Miguel Frasquilho also thanked his "colleagues" of the Board of Directors and the workers and colleagues of the group.

The chairman of TAP's board of directors since 2017, Miguel Frasquilho, is to be replaced by Manuel Beja, according to the proposal that will go to the General Assembly convened for the 24th.

Manuel Beja, who has a degree in Mathematics Applied to Economics and Management, has experience in information technology and was previously at Novabase.

According to the information available on the airline's website, the other names proposed for the Board of Directors are Christine Ourmieres-Widener, Ramiro Sequeira, Alexandra Reis, João Gameiro, José Manuel Silva Rodrigues, Silvia Mosquera González, Patrício Ramos Castro, Ana Teresa Lehmann, Gonçalo Monteiro Pires and João Pedro da Conceição Duarte.

Baker Tilly, PG & Associados, SROC, S.A. is proposed as chairman of the Audit Board and Sérgio Sambade Nunes Rodrigues, Maria de Fátima Damásio Geada and José Manuel Fusco Gato (alternate member) are proposed as members of the same body.



Agency : LUSA

Date : 2021-06-10 10:16:00


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