Veolia appoints Villaseca as non-executive chairman of its Spanish business

The French multinational Veolia, the current owner of Agbar, is restructuring its management team in Spain. The group specializing in waste, water, and energy management will appoint Rafael Villaseca, current non-executive chairman of Celsa, as the new chairman of Veolia Spain, according to sources close to the company. Additionally, Daniel Tugues, CEO of Aguas Andinas, will also be appointed as the group's top executive in Spain.

Villaseca took over as president of Celsa, Spain's leading steelmaker, at the end of 2023, ushering in a new era of growth following the abrupt departure of the Rubiralta family. With the support of the new owners, a group of funds led by Strategic Value Partners and Attestor, the executive has led drastic changes at the company with the sale of subsidiaries in the United Kingdom and the Nordic countries and a transaction to incorporate Criteria into the shareholding, currently under scrutiny by the industrial holding company itself. Previously, Villaseca was CEO of Naturgy between 2005 and 2018.

Tugues, for his part, takes over as CEO of Veolia Spain. The executive comes from Aguas Andinas, Agbar's Chilean subsidiary, also owned by the French group. He has more than 20 years of experience in the water business at Agbar.

Veolia has recently strengthened its ties with the Spanish market. Last month, it added Criteria Caixa as a shareholder, following a €1 billion investment to acquire a 5% stake in the company's share capital. The transaction will allow the holding company chaired by Isidro Fainé to have a representative on the board of directors. In this case, the chosen representative is former Socialist minister Elena Salgado.

A few months earlier, CEO Estelle Brachlianoff was in Spain to present her growth plans. Veolia has a business in Spain worth €2.6 billion and aims to grow 40% over five years. The main driver of growth will be the water business, with a focus on desalination. The company offers engineering and infrastructure operation services in this field and currently manages 10 assets in Spain. In parallel, the company aims to grow in the renewable energy and waste management sectors. To this end, it maintains an active acquisition policy. In 2024, it acquired six companies in the country for €50 million.

Veolia is an infrastructure giant with a market capitalization of €23.63 billion. In 2024, the company had revenues of €44.7 billion.