July 9, 2020

José Folgado, former president of Red Eléctrica, dies of coronavirus

He dies at the age of 76 after a week in hospital. He was Secretary of State for Energy with Aznar and mayor of the Madrid town of Tres Cantos

The Red Eléctrica Group today regretted the death of its former president between 2012 and 2018, José Folgado, after a week admitted with respiratory failure. The current president of the Group, Beatriz Corredor, has expressed on behalf of the entire Red Eléctrica team her regret at the loss to her wife and family, and has expressly acknowledged the work of the former president of the entity.

During his tenure as head of the corporation, José Folgado, continued to promote his activity and his role, both in the energy sector and in telecommunications, inside and outside Spain. In that sense, in those years the company made significant investments in its traditional business, increased its international presence and in the telecommunications sector and became a benchmark for sustainability and corporate governance, with the separation of duties between non-president executive and chief executive officer.

Before leading the Group, José Folgado, PhD in Economic Sciences, held different positions in the Public Administration: first, as Secretary of State for Budgets and Economy, Energy and Small and Medium-sized Enterprises, in the Ministry of Economy; and then like mayor of the Madrid town of Tres Cantos. Likewise, he carried out extensive teaching work for many years as full professor of Public Finance and Fiscal Systems of the Autonomous University of Madrid.

Today, the entire Red Eléctrica team is in mourning and mourns the death of a great man who dedicated his last years of professional life to strengthening the Group and its strategic role in providing a public and essential service in our country.


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