407 International Inc. Announces Dividend
Board appoints Mr. Javier Tamargo as President & CEO of 407 International Inc.
TORONTO, September 3, 2020
407 International Inc. (the "Company") today announced an eligible dividend of $0.32 per common share, payable on or about September 3, 2020 to shareholders of record on September 3, 2020.
The Board also appointed Mr. Javier Tamargo as the next President & Chief Executive Officer of the Company, effective September 4, 2020. A civil engineer by training, Mr. Tamargo has nearly 20 years of experience in the transportation and toll road industry in Europe and North America and is currently Vice President, Commercial Director at Cintra US. Mr. Tamargo previously served as Chief Executive Officer of the East Development Group General Partnership, the company that developed Phase I of Highway 407 East, the provincially-owned toll road that connects with Highway 407 ETR.
Mr. Tamargo replaces Mr. Andres Sacristan, who has served as President & Chief Executive Officer of the Company since his appointment in January 2017. Mr. Sacristan has been appointed as the President of Cintra US, based in Austin, Texas, and will remain as a member of the Company's Board of Directors.
Board Chair, Mr. David McFadden, Q.C., thanked Mr. Sacristan for his commitment to innovation and building the Company's overall resilience during a time of both great growth and change, "The Company and 407 ETR drivers benefitted from Mr. Sacristan's leadership. During Mr. Sacristan's tenure, 407 ETR has continued to modernize customer service systems, deliver an ever-improving driving experience, add new lanes and capacity, and adapt and innovate wherever needed to keep our infrastructure in excellent condition."
The Board of Directors is comprised of the following members:
- David McFadden, Q.C., Chair of the Board
- Andrew Alley
- Michael Bernasiewicz
- George Davie
- Alejandro de la Joya
- Laura Formusa
- Pedro Losada
- Rob MacIsaac
- Young Park
- Andres Sacristan
- Jose Tamariz
- Stephanie Vaillancourt
All Company documents are available on sedar.com
ABOUT 407 INTERNATIONAL INC.
The Company is owned by indirectly owned subsidiaries of Canada Pension Plan Investment Board (total 50.01%), Cintra Global S.E., a wholly owned subsidiary of Ferrovial S. A. (43.23%), and SNC-Lavalin (6.76%).