Criticism Caixa CEO Steps Down from Agbar Presidency Amid Tension with Veolia

Angel Simon, the current CEO of Criteria Caixa, is stepping down as president of Agbar (Aguas de Barcelona) after leading the company for 22 years. Simon has been the general director and then president of Agbar but has decided to leave after a tense episode with the main shareholder, the French group Veolia. Sources familiar with the situation indicate that Simon had been planning his departure but was disappointed by Veolia’s actions, leading him to leave earlier than anticipated to avoid further conflict.

Simon cited his desire to focus fully on his position as chief executive of CriteriaCaixa as the reason for his resignation from the presidency of Agbar. Although Simon had originally proposed leaving in January and was asked to stay until the summer by Veolia, recent tensions between the two parties led him to step down early to avoid prolonging the situation. Isidro Fainé will be taking over as president of Agbar in Simon’s absence.

The catalyst for Simon’s early departure was a letter from Veolia accusing Criteria Caixa of spreading false information about Veolia’s intentions to sell Agbar. Despite Criteria seeing no basis for Veolia’s claims, Simon decided to end the working relationship with the French group. It is worth noting that CriteriaCaixa has been a shareholder of Agbar since 2014, maintaining a 15% stake and two representatives on the Board of Directors.

Simon’s resignation from Agbar comes as he prepares to focus on his new role under Isidro Fainé’s leadership at CriteriaCaixa. The decision to part ways with Veolia was influenced by recent tensions and accusations, prompting Simon to prioritize his new responsibilities and avoid further conflict.