Edenor announced this in a Relevant Fact at the National Securities Commission. He will replace the Englishman Neil Bleasdale as of September.
Edenorthe country’s largest electricity distributor, announced on Wednesday that former Finance Secretary and director of the Central Bank, Daniel Marxwill be the new president of the company starting in September. The company controlled by Jose Luis Manzano, Daniel Vila and Mauricio Filiberti He informed his investors in the National Securities Commission (CNV).
Daniel Marx, 71, is an economist who was involved in the negotiation of Argentina’s foreign debt during the 1990s. Currently, he was working as a manager at Edenor, but on an informal basis. Starting in September it will replace English Neil Bleasdale, who resigned “for personal reasons,” but will remain on the firm’s board of directors.
This was reported by Edenor in a Relevant Fact in the NVC: “I have the pleasure of addressing you on behalf of and representing Empresa Distribuidora y Comercializadora Norte SA (EDENOR SA or the “Company”) for the purposes of inform to the investing public that The Board of Directors at its meeting today accepted the resignation of Mr. Neil Bleasdale for personal reasons in his role as President and CEO of the Company, while maintaining his position as a member of the Board of Directors,” they announced.
“In this sense, The reorganization of the body and the appointment of Mr. Daniel Marx as President, member of the Executive Committee and General Director to replace him were approved. In order to ensure an orderly transition, the appointments will take effect on August 31,” they said.
Edenor: first half profits grew 261% due to tariff updates
Edenor informed the National Value Comission its financial statements for the six-month period ended June 30, 2024, which recorded an operating profit of $82.65 billion. This figure represented an increase of 261% compared to the losses of $51.363 billion it had recorded in the same period in 2023.
This result, the company explained, “was the result of the highest revenues recorded in recent months due to tariff recomposition, which impacted on an improvement in the distribution margin, allowing the Company to meet its main operating expenses.”
“Considering the impact of the temporary tariff adjustments implemented, the result for the first half of 2024 reflects an operational and financial improvement, which allowed it to continue making the necessary investments to maintain and improve the quality of the service providedwith technology and innovation, promoting the responsible and efficient use of energy, complying with the payments for its purchases since the beginning of the tariff normalization,” the distributor commented in a statement sent to the CNV.
Source: Ambito
