Luis del Rivero, the ex-president of Sacyr, has been left all alone. His usual ally, José Manuel Loureda, and the executive that surprisingly joined in informing against him, Javier Gayo, have decided to break their alliance. The decision means that Luis del Rivero has lost any possibility of demanding a new position in the executive board of the construction company and for making things difficult for the new governing body of the company and causing problems with the banks before negotiations resume to refinance the 4.9 billion that were used to break with Repsol.
This situation, nevertheless, does not mean that del Rivero cannot return to Sacyr's top-most governing body in place of some other advisor, considering that the expresident has tried to keep a pulse on Repsol president Antonio Brufau and his CEO position with the petroleum company.
Despite de Loureda's decision, the group formed by the new president (Manuel Manrique), the primary shareholder of the company (Demetrio Carceller) and Juan Abelló are taking the wheel at Sacyr and the proof of that is that they have already taken concrete measures with the management committee, such as the exit of Salvador Font, assistant director to the president. This decision also means that they will also have to find a replacement for the CEO of YPF, Repsol's Argentine affiliate that Font was leading. Loureda's decision also stymies the Sacyr management decision and gives some negotiating power to the new management team. Repsol is not for sale.
