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Leo Express: The largest Leoš Novotn ends after entering the Spanish Renfe

Leo Express: The largest Leoš Novotn ends after entering the Spanish Renfe

On Wednesday, the general meeting of Leo Express dismissed Leoš Novotný Sr. , member of the Board of Directors, confirmed the resignation of Stanislav Knutik, member of the Supervisory Board. The carrier also agreed to dig into its corporate structure.

The general meeting of the company approved the transfer of the share of the limited liability companies Leo Express based in Berlin, Leo Connect and Leo Express Polska based in Katowice to LEO Mobility, s.r.o.

The results of the general meeting were confirmed to the daily E15 by the spokesperson of the tanker, Emil Sedlasek. “The general meeting was held and individual points were approved. Due to confidentiality, we cannot comment on further steps, adding that the points discussed are related to Renfe’s entry into Leo Express,” Sedlařík said.

Neither Sedlaík nor the document gave investors the reasons for the changes. “The election and removal of members of the board of directors is the prerogative of the general meeting of the company,” it is written only in the invitation of the investors.

Leoš Novotný Sr. joined. to Leo Express in December 2019, when the son and founder of Leoš Novotný Jr. as Chairman of the Board of Directors. Whether Novotný Senior is now completely finished in the company, the company did not say. He has financially supported the company in the past.

Renfe completed her entry to the Leo Express this year. The takeover of half the company was ready in March, but it was definitely confirmed in August, the server previously warned Zdopravy.cz. The value of the deal was not disclosed, which opened the way for the Spanish carrier not only for the Czech Republic, but also for Poland, Germany and Slovakia.

Renfe herself has stated that the acquisition of the Czech carrier is part of the effort to expand internationally: by 2028, it wants to have a fifth of sales from abroad. The acquisition of Leo Express was repeatedly considered by the Czech railway company, but it never happened. In an interview with E15 daily, Ivan Bednarek, CEO of ČD, stated that the acquisition will not pay off for the state giant and that Renfe’s motive is mainly to enter the high-speed lines.

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“The Spaniards are not interested in Chinese Leo Express trains, they play high-speed lines. These are operated in Europe by four major carriers: France’s SNCF, Germany’s DB, Spain’s Renfe and Italy’s Trenitalia. The only high-speed line planned and which frequents Its echo in the European Union is the line in Central Europe, and the leader of the debate is the Czechs.”