{"id":54173,"date":"2025-06-20T14:30:38","date_gmt":"2025-06-20T12:30:38","guid":{"rendered":"https:\/\/diacorporate.com\/?p=54173"},"modified":"2025-06-20T14:36:55","modified_gmt":"2025-06-20T12:36:55","slug":"ordinary-general-shareholders-meeting-2025","status":"publish","type":"post","link":"http:\/\/diacorporate.tribecamedia.com\/en\/ordinary-general-shareholders-meeting-2025\/","title":{"rendered":"General Shareholder’s Meeting. Grupo Dia strengthens its Board of Directors to support the ambitions of its Strategic Plan 2025-29"},"content":{"rendered":"\t\t
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General Shareholder’s Meeting. Grupo Dia strengthens its Board of Directors to support the ambitions of its Strategic Plan 2025-29<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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June 20, 2025<\/p><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Alberto Gavazzi assumes the presidency of the Board in the new phase of accelerated growth of Dia to contribute his operational experience and growth mindset. Outgoing president Benjamin J. Babcock will remain on the Board as a proprietary director and principal representative of LetterOne.<\/p>

Grupo Dia shareholders approve the appointment of three independent directors who will bring the leadership, experience, and skills necessary for the new phase of accelerated growth of the company.<\/p>

The Board of Directors now has 10 members, 70% of whom are independent directors and 50% women, exceeding in both cases the corporate governance recommendations for listed companies in Spain.<\/p>

With these changes in the Board of Directors, the company consolidates a governance structure aligned with the group’s operational and financial challenges within the framework of its 2025-29 Strategic Plan.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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June 20, 2025, Las Rozas de Madrid.<\/em> As announced on May 20th, effective after the General Shareholders’ Meeting held today, Alberto Gavazzi assumes the presidency of the Board of Directors of Grupo Dia. Gavazzi, who succeeds Benjamin J. Babcock in this role, will bring his operational experience and growth mindset to align with Dia\u2019s pivot to a sustainable growth agenda.<\/strong> For his part, Babcock will continue as a proprietary director and principal representative of LetterOne, Grupo Dia’s reference shareholder.<\/p>

In addition, the General Shareholders’ Meeting held today approved the appointment of Rut Aranda, Sara D\u00edez Jauregui and Paloma P\u00e9rez<\/strong> as independent directors. With these appointments, the board now has 10 members and adds the talent of three professionals with proven track records and in-depth knowledge of the retail sector, as well as experience in key areas such as digitalization, customer insight, brand building, sustainability, and supply chain management.<\/p>

\u201cIt is an honor to take on the chair of the Board of Directors at this new stage. Dia has a solid foundation thanks to its successful transformation and is well positioned to take full advantage of the growth opportunities presented by the market. Changes to theBoard of Directors approved today, together with an experienced management team and the commitment of our team and franchise network, will enable us to move forward with our plan to create sustainable long-term value for Dia\u2019s shareholders and other stakeholders. The road ahead is exciting, and I look forward to ensuring Dia delivers on its potential,\u201d<\/em> said Alberto Gavazzi<\/strong> after the Ordinary General Shareholders’ Meetings.<\/p>

For his part, in his remarks to shareholders during the Meeting, outgoing Chairman Benjamin J. Babcock highlighted the evolution and strengthening of the governance body and emphasized that \u201cit has been a privilege to serve as chairman in a crucial period in Dia’s history. Together, we have returned focus, purpose, and strength to this company. Today we are passing the baton to Alberto, whose experience and growth mindset are exactly what Dia needs as it pivots fully to a growth agenda. I will remain focused on Dia\u2019s strategy and commitment to deliver shareholder value as LetterOne\u2019s principal representative on the Board\u201d.<\/em><\/p>

This evolution of the Board of Directors further strengthens Grupo Dia governance framework with the aim of ensuring the leadership, experience, and skills necessary to achieve the ambitions of the 2025-29 Strategic Plan, \u2018Growing Every Day.\u2019<\/p>

Furthermore, the changes in the composition of the Board of Directors approved by the Shareholders’ Meeting reaffirm Grupo Dia’s position as a company with first-class corporate governance and a firm commitment to diversity of skills, experience, and relevant profiles. The new composition of the Board raises female representation to 50% and that of independent directors to 70%, thus exceeding in both cases the recommendations of the Good Governance Code and the legislation applicable to listed companies in Spain.<\/p>

In his address to shareholders, Grupo Dia CEO Mart\u00edn Tolcachir,<\/strong> highlighted the company’s solid position after successfully completing a transformation process that has strengthened its business model and laid the foundations for accelerated growth in the coming years. The company is now embarking on a new phase marked by its Strategic Plan, which focuses on creating sustainable value for its shareholders and all its stakeholders.<\/p>

\u201cWe want to take Dia to the next level. Our full focus and commitment are on the execution and delivery of the 2025\u20132029 Strategic Plan. And we have the teams, the capabilities, and the ambition to achieve it,\u201d<\/em> Tolcachir<\/strong> stated in his address to the company\u2019s shareholders.<\/p>

\u201cDia is a strong, focused company that puts the customer at the heart of every decision. And it is ready to accelerate its growth, always driven by our purpose: to be closer every day to offer the highest quality within everyone’s reach\u201d,<\/em> he added.<\/p>

The five-year roadmap focuses on evolving the omnichannel value proposition to attract more customers and consolidate their loyalty, expanding the store network based on the franchise model, strengthening the company’s winning base, and enhancing the perception of the Dia brand.<\/p>

The Board approved the other items on the agenda, including the financial statements and reports for business year 2024, the reappointment of the auditor, the new Board Remuneration Policy, and the capital reduction aimed at restructuring and rebalancing the company’s net equity.<\/p>

\u00a0<\/p>

Composition of the new Board of Directors<\/span><\/h2>

Following approval by the General Shareholders’ Meeting, the Board of Directors of Grupo Dia is now made up of 10 members:<\/p>