Edenor Informs the Market the appointment of Mr. Daniel Marx as Chairman and CEO

Rhea-AI Summary

Edenor (BYMA/NYSE: EDN), Argentina's largest electricity distributor, has announced a significant leadership change. Daniel Marx will assume the roles of Chairman, Executive Committee member, and CEO, effective August 31, 2024. This appointment follows the resignation of Neil Bleasdale from his positions as Chairman and CEO due to personal reasons, although he will retain his role as a regular Director. The Board of Directors approved this reorganization to ensure a smooth transition in the company's top management. Edenor's decision reflects a strategic move to bring fresh leadership to the helm of Argentina's premier electricity distribution firm.

Positive

• Appointment of experienced leader Daniel Marx as Chairman and CEO
• Smooth transition plan with changes effective August 31, 2024
• Retention of Neil Bleasdale as regular Director, maintaining continuity

Negative

• Unexpected departure of current Chairman and CEO Neil Bleasdale
• Potential short-term uncertainty during leadership transition

BUENOS AIRES, Aug. 6, 2024 /PRNewswire/ -- Empresa Distribuidora y Comercializadora Norte S.A. ("edenor" or the "Company"; BYMA/NYSE: EDN), the largest electricity distribution company in Argentina, announces to the investor community that the Board of Directors of the Company at its meeting held today accepted the resignation of Mr. Neil Bleasdale (for personal matters) as Chairman of the Board of Directors and CEO of the Company, keeping his position as regular Director.  Therefore, the Board further approved its reorganization and resolved to appoint Mr. Daniel Marx as Chairman, member of the Executive Committee and CEO of EDENOR.

For the purposes of an orderly transition, the referred changes will be effective as of August 31, 2024.

For further information, contact:

Germán Ranftl – Chief Financial Officer
Solange Barthe Dennin– Investor Relations Officer

Edenor Building
Av. Del Libertador 6363
(C1428CABA)
Buenos Aires, Argentina
Phone: +54 (11) 4346 5000
ir.edenor.com/en
investor@edenor.com

View original content:https://www.prnewswire.com/news-releases/edenor-informs-the-market-the-appointment-of-mr-daniel-marx-as-chairman-and-ceo-302216077.html

SOURCE Edenor S.A.

FAQ

Who is the new Chairman and CEO of Edenor (EDN)?

Daniel Marx has been appointed as the new Chairman and CEO of Edenor (EDN), effective August 31, 2024.

Why is Neil Bleasdale stepping down as Edenor's (EDN) Chairman and CEO?

Neil Bleasdale is resigning from his positions as Chairman and CEO of Edenor (EDN) due to personal matters, but will remain as a regular Director.

When will the leadership changes at Edenor (EDN) take effect?

The leadership changes at Edenor (EDN), including Daniel Marx's appointment as Chairman and CEO, will be effective as of August 31, 2024.

What positions will Daniel Marx hold at Edenor (EDN)?

Daniel Marx will hold the positions of Chairman, member of the Executive Committee, and CEO of Edenor (EDN).