Vidrala’s current CFO Raúl Gómez will succeed Gorka Schmitt as CEO.

As a result of a planned succession process, Vidrala’s Board of Directors has elected current CFO Raúl Gómez as the next CEO, effective June 30, 2024.

The Board will consider the current CEO, Gorka Schmitt, to be proposed to serve as a member of the Board.

Mr Schmitt said: “It has been a privilege be part of Vidrala for more than 26 years, and serve as CEO for the past successful 13 years. I have been fortunate to have worked with a great team at a great company delivering superior results, and I will support Raúl to secure an efficient transition.”

Mr Gómez said: “I am honoured and grateful to receive the confidence of the Board, proud to take responsibility and build on Gorka’s legacy by further strengthening the group’s leading position and executing on the many compelling opportunities ahead.”

Mr Gómez has been a close partner in the executive team over the years, playing a relevant role in the corporate actions that have accelerated the company’s growth and diversification, while maintaining a solid financial position.

With the company well positioned, the Board considers it the right time to transition the role to Mr Gómez and expresses its confidence in his leadership capabilities to successfully face future business challenges.

Vidrala confirms a solid business performance at the start of the year.

The new perimeter after the integration of Vidroporto in Brazil is progressively contributing to superior growth. Moreover, demand is showing signs of stabilisation in all regions of activity.

Finally, competitiveness levels are improving, driven by the investments made to realign the industrial footprint.

As a result, the company reiterates that the business is showing the anticipated growth trends and underlying profits are expected to remain safe in Europe and the UK, complemented by solid trends in Brazil.

Further details will be provided during the Annual General Meeting (AGM), to be held on April 30, 2024, at which time the official guidance for the full year 2024 will be communicated.