BOARD OF DIRECTORS
See updated composition.
The Board of Directors, which has the broadest powers and authority to administer and represent the Company, focus its activities on the definition and supervision of the general strategy of the Company, including the approval of the Corporate Policies relating to corporate governance and regulatory compliance, risks, and social responsibility in accordance with Article 13 of the Regulations of the Board of Directors [PDF].
It also entrusts the organisation and strategic coordination functions to the chairman and chief executive officer and to the management team, who disseminate, implement and supervise the general strategy defined by the Board of Directors pursuant to the to the Corporate Governance System.
In addition, the Board of Directors has created an Executive Committee and four consultative committees: the Audit and Risk Supervision Committee, the Appointments Committee, the Remuneration Committee, and the Corporate Social Responsibility Committee.
Within the context of Iberdrola's ongoing exercise in transparency and communication with shareholders and the markets, the Company publishes the Activities Report of the Board of Directors and of the Committees thereof [PDF], which integrates information regarding the Board of Directors, the Executive Committee, the Audit and Risk Supervision Committee, the Appointments Committee, the Remuneration Committee and the Corporate Social Responsibility Committee.
BOARD OF DIRECTORS STRUCTURE
The following chart shows the proportion of the different types of directors inside the Board of Directors and its consultative commissions:
All members of the Board of Directors are external directors, except for the chairman, Mr Ignacio Sánchez Galán, and the Business CEO, Mr Francisco Martínez Córcoles, who are both executive directors.
Ms Inés Macho Stadler is the vice-chair of the Board of Directors.
The independent director Mr Juan Manuel González Serna chairs the Remuneration Committee and has been appointed lead director pursuant to article 26 of the Regulations of the Board of Directors [PDF].
The positions of counsel to the Board of Directors and secretary of each of its consultative committees, are held by well-respected outside lawyers, which ensures their independence and enriches debate and the exchange of viewpoints at the meetings of the Board of Directors and its committees.