Iberdrola has appointed Emma Navarro, vice president of the European Investment Bank (EIB), to the board of directors of its subsidiary in Spain until October.
Iberdrola hires former CNI director Sanz Roldán as advisor to its president in the Villarejo case
The signing has been advanced by The confidential, which indicates that there has been prior approval from the Ethics and Compliance Committee of the EU public bank, which in recent years has granted Iberdrola more than 2,000 million euros of credits for various renewable infrastructure projects.
With this signing, the Bilbao multinational, which in 2020 broke a new profit record despite the pandemic, is consolidated as the Spanish company with the most former senior salaried positions as advisers or directors. The list now exceeds fifteen people.
Navarro, former Secretary General of the Treasury with Mariano Rajoy, former president of the Official Credit Institute (ICO) and former chief of staff of Luis de Guindos in the early years of the current Vice President of the European Central Bank (ECB) as Minister of Economy, has been appointed independent director of the subsidiary of the largest Spanish electricity company a few months after, in October, the company chaired by Ignacio Sánchez Galán return to the former Minister Ángel Acebes as a counselor of his parent company after his acquittal in the Bankia case.
A few weeks before, Iberdrola appointed two subsidiaries in Latin America as directors to former ministers Fátima Báñez and Isabel García Tejerina.
And in July, hired former director of the National Intelligence Center (CNI) Félix Sanz Roldán as an advisor to its president, a signing against the background of what is known as the Villarejo case, which threatens the indictment of the electricity company for the alleged espionage work of the former retired commissioner to politicians and businessmen such as Florentino Pérez, president of ACS, who years ago starred in a tough fight with Galán for control of the multinational.
Sanz Roldán joined the so-called International Advisory Panel that advises Galán, a body whose composition is not public but which includes, among others, Joschka Fisher, former German Foreign Minister; Jonathan Hill, former European Commissioner for Capital Markets; Laurence Tubiana: former director general of the European Climate Foundation and special representative of the French Government for COP21 in Paris; Ken Salazar, former US Secretary of the Interior; and Ramón de Miguel, former Secretary of State for European Affairs with José María Aznar, former ambassador of Spain in Paris and to the EU, and former president of Iberdrola’s former engineering subsidiary, Iberinco.
Ernesto Zedillo, former president of Mexico, also belongs to that advisory body. The former private secretary of Zedillo throughout his term (1994-2000), Liébano Sáenz, is also a director of Iberdrola México.
In 2019, the electricity company signed the former Secretary of the Economy with Rajoy and current vice president of the CEOE, Íñigo Fernández de Mesa, as a director of Scottish Power, its British subsidiary; That year it also incorporated Juan Manuel Eguiagaray, who was Minister of Industry with Felipe González, to the board of its Brazilian subsidiary, Neoenergia (of which Tejerina has been a director since last year).
The US subsidiary of Iberdrola, Avangrid, includes John Elias Baldacci, former governor of the State of Maine (2003-2011), where this company has a significant presence; and as independent directors, Robert Duffy, former mayor of Rochester (New York) and former right-hand man of the governor of that State, Andrew Cuomo; and the former United States Ambassador to Spain, Alan Solomont.
At Scottish Power, Iberdrola’s adviser is the Scottish diplomat and politician John Olav Kerr, Baron Kerr of Kinlochard; and in its parent company, José Walfredo Fernández, former Undersecretary of State for Economic, Business and Energy Affairs of the United States. This is, along with Acebes, one of the few whose retribution is public. Fernández received 294,000 euros in 2020, while Aznar’s former minister received 61,000 euros for just over two months as a director of his parent company.