General counsel | Grupo Hafesa
Carlos Corredera Dominguez
General counsel | Grupo Hafesa
Team size: Six
How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?
First of all, I approach the situation by analysing the root cause or the problem. Once I understand the risks, consequences and, if possible, the different solutions that may apply, I configure an action/correction plan, to ensure that we are aligned with management and the business strategy. There is no doubt that it is essential to predict the multiple factors that might be involved in the development of the action/correction plan and to share it with management prior to its implementation. After so many years of dealing with instability in the sectors in which I have worked, I have developed a mindset that is prepared for continuous challenges to the business.
As part of my strategy, I always remind myself that, since it belongs to a broader organisation, the legal team should be dynamic and cooperative with the rest of the company. We, as part of the support areas, should plan initiatives and solutions that may involve other departments. For that reason, nowadays as a leading department, we should guide and confirm the implementation of the initiatives and solutions across the company.
What are the main cases or transactions that you have been involved in recently?
Our main case in 2024 was the full corporate restructuring of our group of companies. We have, as part of the business plan, the challenge of initiating the restructuring of the companies in order to align them with the current business lines. The aim of that restructuring is to configure a group of companies with a very simple and attractive scheme for financial purposes. For that task, we have been helped by Marimon Abogados as lead counsel.
Even though we do not have a great number of companies in our group, around twenty-six, since some of them have been incorporated due to commercial or tax reasons, in the past years, they have not always been done so in a comprehensive or logical way. Consequently, the current structure does not have a rationale and, of course, if we want to achieve our main objectives as a group, we have to be dynamic, operational and simple for third parties that might analyse our structure.
Another goal for this year is the internationalisation of the group. As part of its strategy, our group is studying new strategic countries where it can continue to grow. Hence, we have been working with different law and consulting firms in three countries in which we hope to set up our first corporate vehicles and, in the coming year, initiate activities. We have been focused on neighbouring countries and another in the Middle East. At the same time, we are exploring opportunities with potential partners in our main field, to integrate them in our structure through an M&A process or to create some kind of partnership.
How have you integrated technology into your legal processes, and what impact has this had on efficiency and compliance?
We have analysed different alternatives in the technology sector for contractual and signature processors. Since the market is full of options, we have been looking for a tailor-made solution or product that can adapt to our field without any excessive modification and pre-start phases. After months of multiple meetings and back and forth, finally we have chosen a solution that we expect could meet our requirements.
We are happy to share that we are going to introduce our department to the AI era thanks to this supplier, that offers (among other solutions) the opportunity to interact in real time with AI for fast contractual reviews, legal reports, or reviews of legal documents etc.
What do you see as the major legal challenges for businesses in Spain over the next five years, and how are you preparing to address them?
The principal legal challenge over the next years will be the total integration of technology into legal departments. As lawyers, we tend to dismiss any new or revolutionary idea or solution that could destabilise our traditional way of thinking. Hence, only once the new ideas are progressively adopted by big players will the rest of the sector follow the trends and implement them as well. However, our profession has always involved the human element, so it is obvious that the new challenges AI will bring may not seem the natural path to follow. And so, the transition to understanding our profession in line with this new technology will not be an easy task both for the clients and for the lawyers themselves.