Iberdrola has agreed to separate the positions of executive president and CEO of the company, appointing Armando Martínez Martínez, until now General Director of Business, to this new position, while Ignacio Sánchez Galán will remain as executive president, the energy company informed the Commission National Securities Market (CNMV).
Likewise, Martínez has been appointed director of Iberdrola, with the qualification of executive, through the co-option procedure and at the proposal of the Appointments Committee. He thus covers the vacancy due to the resignation of Francisco Martínez Córcoles in his position as director, who has made his position available to the board to facilitate changes in the governance of the company.
Sánchez Galán has chaired Iberdrola since April 2006, when he replaced Íñigo de Oriol and continued to serve as CEO of the energy company, a position he had assumed in 2001 from the telecommunications sector. For his part, Martínez held the position of General Director of Business since November of last year. Previously, he had been director of the Networks business in the company and also director of Liberalized Business.