Sonae makes board appointment

Sonae, the company that owns the supermarket chains Continente Modelo, has had a boardroom reshuffle announcing the departure of non-execute board member Margaret Lorraine Trainer, replaced by Maria Teresa Ballester Fornes.

According to a note sent to the CMVM, Lorraine Trainer resigned “with immediate effect and for personal reasons”. The company led by Cláudia Azevedo thanked Trainer for her contribution and exceptional dedication at Sonae since she was appointed to the board in 2015.
Maria Teresa Ballester Fornes has 25 years of experience in executive roles in the private equity sector in non-executive capacities on the boards of benchmark listed companies.
“With strong strategic experience and a successful track-record, Maria Teresa Ballester will certainly contribute towards the continued growth and success of Sonae, and her ideas will further strengthen the Sonae Group’s board of directors”, states a communiqué.