Need to Know

FCC Group Names New CEO

Pablo Colio is replacing Carlos M. Jarque in the role.

Carlos M. Jarque has stepped down as CEO of FCC Group and the board of directors has unanimously decided to name Pablo Colio as his replacement.

Jarque said that he had achieved his goals and that, for personal reasons, he wished to return to Mexico to be closer to his family.

“Notwithstanding the challenges that remain, under the leadership of Mr. Carlos Slim and with the support of the company's board, executives and staff, FCC is now experiencing a new and positive cycle, as reported to the last shareholders' Meeting on 28 June 2017, which offers me the opportunity to return to Mexico and rejoin America Móvil," Jarque said in a statement.

Colio will combine the new position of CEO with his previous role as general manager of FCC Construccion. Within FCC Group, Colio also served as the general manager of FCC Industrial. He was responsible for its international expansion and the unification of all industrial companies of FCC Group under the brand FCC Industrial.

FCC has been aggressively building its U.S. presence in the past few years.

In terms of its solid waste business lines, FCC was awarded a $32.5 million contract to collect and treat waste from the city of Rowlett, Texas, for a period of seven years, with the possibility of a three year extension. The contract includes managing the city's residential and commercial waste and will provide about 5,000 tons of waste per year for the group's recycling plant in Dallas, which was inaugurated this year. Including the contracts obtained in the cities of Garland and Mesquite in the first quarter, FCC’s  Environment division added over $300 million to its backlog in the U.S. in the first half of 2017.

Colio graduated from the Madrid School of Architecture in 1994. He has been working at FCC for close to 23 years. He has been general manager of FCC Construction since January 2017. From May 2016 to December 2016, he was manager of FCC Construction International and general manager of FCC Industrial. Between September 2012 and April 2016, he was general manager of FCC Industrial. He was formerly Head of the Building Department in Iberia Servicios y Obras.

In a statement, Colio said he, “"would like to thank all members of the board of dDirectors and shareholders for their trust in me. It is a great honor to assume this responsibility that I accept with enthusiasm and excitement, dreaming of a great future for FCC Group." 

TAGS: Financials
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