CIMIC Group announced the promotion of Adolfo Valderas to chief executive officer, from deputy chief executive officer, effective immediately. Marcelino Fernández Verdes, currently CIMIC executive chairman and chief executive officer, will continue as executive chairman. Mr. Valderas was previously CIMIC Group deputy chief executive officer and chief operating officer.

Prior to that he was chairman and chief executive officer of Iridium Concesiones de Infraestructuras.