Raül Blanco Resigns as Renfe President Effective January 14 to Pursue Private Sector Opportunities

Jan 7, 2025, 10:44 AM

Raül Blanco, the president of Renfe, has announced his resignation from the state-owned Spanish railway company, effective January 14, citing personal reasons. Blanco, who assumed the presidency in February 2023, has led the company through a period of financial stabilization, reducing losses from 123.4 million euros in 2023 to 20 million euros in 2024, an 83% reduction. Under his leadership, Renfe's EBITDA increased by 28% to 450 million euros in the last year. Blanco's departure is part of an agreement with the Ministry of Transport and Sustainable Mobility, allowing him to pursue new professional goals in the private sector. During his tenure, Renfe also expanded its international operations and modernized its governance, aiming for positive results starting in 2025 and positioning itself as a global leader in mobility.