Vertice appoints new CEO Manuel García-Durán as share price booms
New CEO says goal is to foster international activity.
After the resignation last month of Vertice CEO for the last five years, José María Irisarri, the company has appointed a new CEO, Manuel Garcia-Duran, president of Corporación Grupo Ezentis, the main shareholder of Vertice. Garcia-Duran [pictured] will now be the top executive in both companies. Mr. Irisarri resigned as he wanted to find new investors and the board was against that move.
Garcia-Duran said that his goal is to foster the international activity of the company, especially in the Spanish-language world and inPortugal. The company is also growing in East Europe and North of Africa and wants to ramp up in those territories as well.
Ezentis is the owner of the 28,6% of Vertice. Ezentis has 5,000 employees in three continents and is specialized in telecommunications and civil construction.
Vertice is the only Spanish production company that is present at the stock market. The shares of Vertice have increased 70% in the last weeks but lost $1.5m during the first 9 months of 2011 due to the process of internationalisation that is going through.
Vertice also recently struck an agreement with Argentinian production company La Corte in order to improve its presence in South America. La Corte is one of the leading TV production companies in Argentina, giving technical support to companies including Sony, Discovery or National Geographic.
Vertice has offices in Buenos Aires, Los Angeles and Miami.