January 9, 2013 / 7:21 PM / 5 years ago

Spain's FCC set to replace chairman

MADRID, Jan 9 (Reuters) - Spanish builder FCC plans to replace Executive Chairman Baldomero Falcones with the head of its Cementos Portland subsidiary, Juan Bejar, Expansion reported on Wednesday without naming sources.

Bejar, former chief executive officer of Spanish infrastructure firm Cintra, is also currently executive chairman of Globalvia, an infrastructure joint venture between FCC and property firm Realia.

FCC declined to comment.

The builder, whose net profit dropped 77 percent to 40 million euros ($52 million) in the nine months to September, cancelled dividend payments last month as it continues to suffer from a sharp construction downturn in Spain. ($1 = 0.7667 euros) (Reporting By Jose Elias Rodriguez; Writing by Tracy Rucinski; Editing by Marguerita Choy)

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