Iberdrola’s Chief Financial Officer, José Sainz Armada, is the new chairman of the subsidiary Iberdrola España

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Iberdrola’s Chief Financial Officer, José Sainz Armada, is the new chairman of the subsidiary Iberdrola España

With this appointment, the chairmanship of Iberdrola España is now also held by an Iberdrola executive, as is already the case in other sub-holdings
Mario Ruiz-Tagle remains Chief Executive Officer of the Group’s Spanish sub-holding

José Sainz Armada has today been appointed chairman of Iberdrola España, a role he will combine with his current duties as the Group’s Chief Financial Officer.

His appointment recognises Sainz Armada’s role in Iberdrola’s sustained growth and international consolidation, which have always been consistent with maintaining financial strength and a policy of increasing dividends. Over almost 25 years as CFO, José Sainz has also become a leading figure in the sector in the eyes of the financial markets.

With this appointment, Iberdrola España will now also be chaired by a Group executive, in line with the model already in place at other sub-holding companies such as ScottishPower (United Kingdom), Avangrid (United States) and Neoenergia (Brazil), chaired by Ignacio S. Galán, and Iberdrola Energía Internacional, chaired by Hugh Elliott.

A key figure in Iberdrola’s growth and financial strength

José Sainz Armada (Madrid, 1959) holds a degree in Law and Business Administration from ICADE and an MBA from INSEAD, and has had an extensive career in the financial and energy sectors. Before joining Iberdrola in 2002, he held senior positions at J.P. Morgan, Argentaria and BBVA.

He has served as the Group’s Chief Financial Officer for almost 25 years and has been named the best CFO in the sector in Europe on several occasions at awards such as those organised by Institutional Investor, Extel and IR Magazine.

José Sainz is also a director of ScottishPower, Neoenergia and Avangrid, and chairman of Iberdrola Inmobiliaria.