Agustín Cordón, new chairman of Culmia

02 of August of 2021

• He has held senior management positions in companies such as Bimbo and Grupo Zeta.
• Culmia also welcomes Mario Armero who joins as vice-chairman, with executive experience in General Electric and ANFAC.

30 July 2021. - Culmia, one of Spain's leading real estate developers, announces the appointment of Agustín Cordón as the company's new chairman.

With an extensive career spanning more than three decades in senior management roles, Cordón has served as vice-chairman and financial director of the Bimbo group in Spain (1997-2002), CEO of both Fira de Barcelona (2004-2015) and the Mobile World Capital (2012-2015), and, between 2015 and 2019, CEO of Grupo Zeta.

Culmia's new chairman has combined these and other executive roles with his participation in the advisory boards of companies such as Simon or GSMA and in entities such as the Spanish Association of Executives (AED by its initials in Spanish) and the Association for the Progress of Management (APD by its initials in Spanish). Cordón comes to Culmia as a founding partner of the consulting firm Anantara Ventures.

A graduate in Economics and Business Studies from the University of Barcelona, he has postgraduate qualifications from the Polytechnic University of Catalonia, IESE and The Wharton School in the United States.

As non-executive chairman of Culmia, he will lead the company and the deployment of its current business plan, with which it plans to invest 450 million euros over the next 4 years to add more than 7,200 new homes to its existing portfolio and take a leading position in the emerging affordable housing sector, where it is already a finalist in the Plan Vive in Madrid.

According to Agustín Cordón, "I take on this new role with a great sense of responsibility and with the desire to add value to a first-class management team led by our CEO, Francisco Pérez. The field of real estate development has undergone a great deal of professionalisation in Spain in recent years, but I am convinced that Culmia has  what it takes to be at the forefront and continue to innovate in terms of product, operations and sustainability, not only in what has been its core business, prime housing, but also in the rental residential and affordable housing segments".

Mario Armero, new vice-chairman of Culmia

The appointment of Agustín Cordón has taken place in the context of a renewal of Culmia's Board of Directors, which also includes the joining of Mario Armero as non-executive vice-chairman.

Armero has held various executive roles over the last three decades in companies such as General Electric, of which he was chairman for Spain and Portugal between 2001 and 2008, Corporación Llorente (2008-2010) and Ezentis (2010-2011). Between 2012 and 2019, he was vice-chairman of the Spanish Association of Automobile and Truck Manufacturers (ANFAC by its initials in Spanish) and, prior to joining Culmia, he was chairman of the renewables company Enso and director of Bankinter Consumer Finance and the Belgian multinational UMICORE.

Commenting on his appointment, Armero said he is "very excited to be part of Culmia at a time when the company has unlimited potential, thanks to a solid market position and a first-class executive team".

For Francisco Pérez, CEO of Culmia, "the additions of Agustín and Mario reinforce our governance and add value to the Culmia project. They are two professionals with a proven track record who will help us deploy our current business plan".

In addition to Cordón and Armero, Culmia's new Board of Directors comprises Francisco Pérez, the company's CEO, Charles Blackburn, Alejandro Cano and Antoni Musolas.