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Vocento Social

José Manuel Vargas resigns as Chief Executive Officer of Vocento

  • The Chairman of the Company, Diego del Alcázar, will assume the task of coordinating the management team.

Madrid, 5 July 2011.- José Manuel Vargas submitted to the Board of Directors of Vocento yesterday his resignation as Chief Executive Officer of the group, a position he has held since 2008. The chairman of the company, Diego del Alcázar, will assume the task of coordinating the management team.

José Manuel Vargas, who is leaving the position for personal reasons, has been attached to Vocento for more than a decade. Between 2000 and 2002 he was director of the legal department of Prensa Española, as it then was, and secretary of the Board of ABC from 2000 to 2005. He was then chief financial officer for six years and director general of national media of what is as of today the only media company to be majority financed by Spanish capital.

On 28 January 2008, he was appointed chief executive officer of Vocento, a role which he combined with the position of chief executive officer of ABC. During this time, at the head of the leading press group in Spain, he worked to lead the transformation and repositioning of the company in all areas of the media business (internet, press, television, radio, and new media vehicles), and to renew and strengthen the editorial offer of the multimedia brands that make up group. He carried all of this out during a recessionary period, with a sharp contraction of the advertising market, and during the dramatic upheaval in the media sector that has been wrought by changes in the habits of readers and consumers.

The strategy that was implemented under the management of José Manuel Vargas enabled the group to maintain its leadership of the Spanish market in circulation, readership, and profitability, despite the difficult environment. At the same time, the revenue mix of the group has been transformed - internet and audiovisual now represent over 25% of the total - while the solid financial position of Vocento continues to differentiate it from other groups in the sector.

Vocento thanks José Manuel Vargas for his dedication, commitment and effort during these difficult years.