[2021-02-24] Miguel Setas to run key parts of EDP electricity business

Source: Macauhub

Energias de Portugal SA (EDP) has put Miguel Setas in charge of its electricity transmission and distribution businesses in Brazil, Macao, Portugal and Spain, Reuters reports, citing a letter sent by Mr Setas to EDP’s business partners.

The news agency quotes a circular announcement as saying Mr Setas joined the EDP executive board last month.

Mr Setas had been chief executive of the Brazilian arm of EDP since 2014, and the shareholders in the company, meeting last Friday, chose João Marques da Cruz to succeed him in that position, Reuters says.

Mr Marques da Cruz is the vice-president of Companhia de Electricidade de Macau SA, of which EDP controls about 21 percent.

Chinese state-owned China Three Gorges Corp. is the biggest single shareholder in EDP, owning 21.55 percent.