Glossary

L

  • Lead independent director
    Director whose appointment is required by the Companies Act for listed companies if the chair of the board of directors is an executive director. The lead independent director should be empowered to request a call to meeting of the board of directors or the inclusion of new items on the agenda, coordinate and hold a meeting of the non-executive directors, and direct the evaluation of the chair.

    Iberdrola?s lead independent director also has powers to chair meetings of the board of directors in the absence of the chairman and the non-executive vice-chair, to participate in the planning of the annual schedule of meetings and in the preparation of the agenda for each meeting, and to lead the process for the succession of the chairman when the chairman provides advance notice of his desire to cease to hold office as such.

    Spanish: Consejero coordinador
  • Legitimate holder of the shares
    Person in whose name ownership of the shares is recorded and who is therefore attributed the status of shareholder as well as the rights and duties established by law and the Corporate Governance System.
    Spanish: Titular legítimo de las acciones
  • Liberalised activities
    Activities carried out by energy and gas companies that are not subject to regulation, such as the production and sale of gas and electricity in Spain.
    Spanish: Actividades liberalizadas
  • Liberalised company
    A company carrying out liberalised activities. See "Liberalised activities".
    Spanish: Sociedad liberalizada
  • Listed company
    A company whose shares are admitted to trading on an official secondary market. IBERDROLA is a listed company.
    Spanish: Sociedad anónima cotizada
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