September 22, 2020

Red Eléctrica appoints former minister Beatriz Corredor as replacement for Jordi Sevilla

The board of directors of Red Eléctrica has appointed Tuesday the former Minister of Housing Beatriz Corredor new president of the company, replacing the resigned Jordi Sevilla.

The company has informed the National Securities Market Commission (CNMV) that its board, after a report from the Appointments and Remuneration Committee, has agreed to “appoint Mrs. Beatriz Corredor Sierra, chairman of the Board of Directors and non-executive chairman of the Company “, whose largest shareholder is the State through the State Company of Industrial Participations (SEPI), which owns 20% of the shares.

Corredor, whose designation proposal was known on Friday, has been appointed director of the company with the category of “other external” until “the first General Meeting meets, in order to fill the vacancy in the Board of Directors, produced as a result of the resignation presented by Mr. Jordi Sevilla Segura as director and president of the Company on January 28, 2020 “.

Sevilla, who, like Corredor, was minister at the stage of the socialist José Luis Rodríguez Zapatero, left his position arguing disagreements with the vice president and minister for the Ecological Transition, Teresa Ribera.

Corredor, 51, has a degree in Law and a property registrar since 1993. Considered very close to the President of the Government, Pedro Sánchez, she is Secretary of Territorial Planning and Public Housing Policies in the Federal Executive of the Socialists and was a deputy in the Congress by the PSOE until last January 13 announced that he would leave his seat citing personal reasons.

Affiliated to the PSOE since 2003, after passing through the City of Madrid (between 2007 and 2008), in 2008 Corredor was appointed Minister of Housing, a position she held until in 2010 that portfolio was subsumed in Development, so that her ministry was reduced to secretary of state. After his departure from the Government, Majadahonda, the town west of Madrid where Minister Teresa Ribera resides, joined his place as a property registrar. Since September 2018 she is president and director of the Pablo Iglesias Foundation.

In Red Eléctrica, it will have an estimated compensation of over half a million euros. It will be the second woman to preside over Red Eléctrica after Paulina Beato, who was in charge of the company after its creation in the 80s.


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