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Antonio Mexia earned over $1.6 million from EDP in 2023 and is now free to sign with another energy company

Antonio Mexia earned over $1.6 million from EDP in 2023 and is now free to sign with another energy company

Despite leaving the leadership of EDP in 2020, Antonio Mexia was entitled to receive €1.66 million from the power company in 2023, in addition to health and life insurance and a retirement savings plan (PPR). The director is also now free to sign for another energy company, once the non-compete agreement expires.

The values ​​refer to the variable bonuses for 2020, but also to the last tranche of the non-compete agreement, which was signed when the director left the company in 2020.

Regarding wages for the 2020 financial year, Antonio Mexia is entitled to 866 thousand per year.

João Manso Neto, who is now CEO of Greenvolt, is also entitled to 606,000 euros. Other former administrators also received: Antonio Martinez Costa (495 thousand euros) and Joao Marques da Cruz (321 thousand euros).

In 2022, Antonio Mexia received more than 692 thousand euros, referring to the multi-year variant of 2019. Joao Manso Neto received more than 499 thousand euros.

It is reported that Antonio Mexia and Manso Neto suspended their duties during 2020, months after they were suspended from the company by court decision in the legal process known as the CMEC/EDP case relating specifically to CMEC contracts. At the end of 2020, they will end up leaving the company after signing agreements to end their duties and not a race.

Within the scope of the agreements, directors are entitled to “the sums of money due as a result.” Of the rewardActions on the mandate that continued between 2018 and 2020, incl Fixed, variable, annual and multi-year components, the evaluation of which is the responsibility of the Remuneration Committee of the General and Supervisory Board, in accordance with the conditions applicable in the date in question, To explain the remuneration policy approved by this committee submitted for consideration by the General Assembly”, to which the above values ​​refer.

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But a non-compete agreement was also signed, whereby Antonio Mexia is entitled to €800,000 for three years.

In 2023, “FPaid as compensation for the obligation not to do soHey Dr. Antonio Mexia competition worth 400,000 euros, in January and July, for a total 800,000 euros, in addition to the total amount of 145,896.72 euros related Health insurance, life insurance premiums and life insurance PPR,” according to the EDP wage report.

Joao Manso Neto was also entitled to 560,000 euros annually for three years, but he rejected this amount in order to sign a contract with Greenvolt.

Once this agreement is concluded, Antonio Mexia will be free to sign for companies in the energy sector.

In the CMEC/EDP case, the accusation is supposed to be recognized by the Public Prosecutor's Office only this month, 12 years after the start of the investigation, as Echo reported in December. Antonio Mexia and João Manso Neto were charged in 2017, on suspicion of four active corruption offenses and alleged bribery of former Minister Manuel Pinho, Miguel Barreto (former DGEG) and João Conceição (former Ministry of Economy).