UPDATE 1-Spain's FCC CEO to leave company after summer - source

viernes 10 de julio de 2015 05:41 GYT

* CEO Juan Bejar to leave post before year-end

* FCC needs fresh strategy to shave debt and grow

* May make new rights issue to cut debt costs (Adds financial details, quotes, shares)

By Carlos Ruano and Robert Hetz

MADRID, July 10 (Reuters) - Spanish builder FCC's CEO Juan Bejar has told the firm he plans to leave before the end of the year, a source familiar with the matter said, a move that would see top shareholder Mexican tycoon Carlos Slim tightening his grip on the company.

The departure of Bejar, a well-known executive in the industry who was appointed in 2013, could take place after summer and would pave the way for another potential rights issue as well as a strategy change, the source also said.

FCC declined to comment.

The construction and services firm is struggling to boost profitability and cut a costly debt pile, even after Slim took a 25 percent stake when he bought the lion's share of a 1 billion euro ($1.1 billion) rights issue in December last year.

FCC is one of the worst performers on Spain's blue chip index and has lost a quarter of its stock value since the December rights issue, with uncertainty over Bejar's intentions since the arrival of Slim hanging over its shares.   Continuación...