He touched on the CMEC process: "Process based on a fantasy and purely speculative construction, without any adherence to the truth of the facts"

Decision to leave EDP was taken “regardless of the decision that may be handed down by the Lisbon Court of Appeal”, guarantees the manager in his farewell letter from EDP. António Mexia maintains his “complete determination” so that “the absence of any illegitimate benefits for EDP, as well as the legality of all decisions taken,” is clearly demonstrated during the years in which he led the electricity company. The manager also says that the investigation was "artificially drawn out".

André Kosters / Lusa

António Mexia left harsh criticisms of the way the CMEC (Contractual Maintenance Costs) process has been conducted in court.

The manager, known for measuring his words well and used to the sensitive ears of shareholders, analysts, journalists and politicians, today revealed his “deep indignation” with the development of this process, more than three years after he was accused, to a month of the end of his term of office, and at a time when he is awaiting the court's decision on his appeal where he challenges the suspension of duties, which he considers to be illegal.

In his farewell letter from EDP, the suspended executive chairman says this is a “process based on innuendo and suspicion”, and says that this is an “artificially drawn out investigation”.

What does António Mexia say in his farewell letter on the CMEC process? Going back to July 2017, the manager says that this was the first time that the company was confronted with the so-called “CMEC process”. Later, he learned that the process had “started in 2012 with an anonymous complaint and had already been investigated for five years”.

“The same process that came to be known in July 2020, incomprehensible developments. It is with deep indignation and astonishment that in the past more than three years I have continued to witness the development of a process based on innuendo and suspicion, based on a fantasy and purely speculative construction, without any adherence to the truth of the facts ”, he continues.

More than three years ago, in June 2017, António Mexia and João Manso Neto were constituted defendants in this process suspected of active corruption and economic participation in business.

António Mexia guarantees in the letter that he has always complied with the law as the leader of EDP during his five terms, since 2006. “All of our work - mine and the team - over these years, has been in pursuing EDP's interests, strictly fulfillment of our legal duties and obligations to all stakeholders, immediately and always from the Portuguese State itself, namely while it was our main shareholder ”.

In this way, “all decisions were unanimously approved by Organs competent bodies of EDP. All issues raised were clarified, and accepted as such, not only by studies, but mainly by validations and decisions by independent entities, with emphasis on the European Commission, with regard to the adoption of the CMECs regime, as well as the extension of Water Domain. Always in the context of each moment and in strict compliance with the law ”.

“The awareness of what we have done and the reality of the facts, justify us to feel absolutely calm regarding the resolution of this process, which is still under investigation”, he guarantees.

The executive chairman of EDP and the executive chairman of EDP Renováveis, João Manso Neto, both suspended from office by court decision, announced today that they are unavailable to continue ahead of the electricity company. The main shareholders of EDP, who have a seat on the General and Supervisory Board (CGS), intend to hold an extraordinary general meeting in January 2021 to elect a new executive committee until 2023. In this regard, they asked the interim executive chairman, Miguel Stilwell, to submit a proposal to the executive committee.

The process is currently under investigation and is being conducted by Judge Carlos Alexandre. The CMEC case has been under investigation for about eight years at the Central Department of Investigation and Criminal Action (DCIAP).

In the letter, Mexia highlights the “support and clarity of EDP's management and supervisory bodies, which, after in-depth analysis of all issues, confirmed the absence of any illegitimate benefit for the company or any conduct by this or its representatives not in accordance with the law ”, a support shared with the market through communications in June 2017, September 2019 or July 2020.

The executive chairman of EDP since 2006, now leaving office, underlined that he was elected for the current term, which ends at the end of this year, with the process already underway which “revealed, once again, the shareholders' confidence in the facts that speak for themselves, in people and in the smoothness of their performance ”.

Advancing to July 2020, António Mexia points out that “eight years of research afterwards and without any new facts, an unjustified application of new enforcement measures was carried out, with emphasis on the suspension of my duties, legitimately conferred by the company's shareholders , which is since 2012, I remember, a private company ”.

And he continues to attack: “This fact [suspension], which illegally prevents me from working, from exercising my current mandate at EDP since July, that we are one month from the end, coupled with an artificially drawn out investigation, lead me to consider that it is time to change ”.

In the letter revealing his “unavailability” to be a candidate for a new mandate, Mexia says that the decision to leave EDP was taken “regardless of the decision that may be handed down by the Lisbon Court of Appeal regarding the appeal that was filed against the enforcement measures applied almost six months ago ”.

“If, as expected, the Lisbon Relationship will reverse the suspension measures, I will have the intention, as I have already shown, to contribute to this transition, which allows EDP to develop, without a start, all the enormous potential identified and in full execution, continuing the work done until today and which is widely recognized by the market ”.

Mexia says that it maintains its "complete determination" that "there is no doubt that the absence of any illegitimate benefits for EDP, as well as the legality of all decisions made, are clearly and clearly demonstrated".

To conclude the letter, António Mexia says that it was a “true honor to be for five terms, 15 years, at the head of the destinies of this exceptional company, whose character, purpose and impact we are proud of”.

Farewell letter from António Mexia of EDP: “It was an extraordinary trip over 15 years”

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Farewell letter from António Mexia of EDP: “It was an extraordinary trip over 15 years”

In his farewell letter, the manager highlights the growth that the electric company has had since 2006, the year in which he assumed his leadership. “This is certainly the most difficult decision of my professional life, above all because it results from a context of incomprehensible justice. But I take it thinking about EDP ”.

Mexia and Manso Neto unavailable to return to lead EDP

EDP ​​shareholders asked Miguel Stiwell de Andrade to submit a proposal for the composition of the executive board of directors for the 2021-2023 term. Extraordinary General Shareholders' Meeting may be held in January 2021.
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