- Replaces José Folgado, who had been the Chairman of the corporation since his appointment in March 2012
The Board of Directors of Red Eléctrica Corporación today appointed Jordi Sevilla as the new Chairman of the Group, replacing José Folgado.
Jordi Sevilla has a degree in Economics and has been a Public Official belonging to the Spanish State Economists and Trade Experts since 1983. The new Chairman of Red Eléctrica has an extensive professional career in both the public and private sectors. After more than a decade as a senior government official, he was elected as a member of parliament in 2000 and appointed Public Administration Minister between 2004 and 2007. Since 2009, he has developed his activity in the private sector, first in PriceWaterHouseCoopers and currently in the communication consultancy ‘Llorente & Cuenca’, at the same time as he has been an economic advisor to the current president of the Government during the last general elections in Spain.
The new Chairman stated, "It is truly a challenge to assume the presidency of such a great company such as Red Eléctrica, in a regulated sector in which the guarantee of a good electricity supply service must be combined with the acceptance and undertaking of the new challenges associated with digitisation and the transition to a sustainable and decarbonised economy. I trust in the professionalism of its employees and directors to align our efforts with what is already a great national objective”.
José Folgado has held the presidency for the past six years. During this period, the company has made significant investments in its core business, has increased its presence both internationally and in the telecommunications sector and has become a benchmark for sustainability and corporate governance. Therefore, to date, the Group has managed to double its share value in the stock market. According to Mr. Folgado, "it has been an extraordinary experience in every way. This is a great company whose main asset is its workforce. I am sure that the Company, with its new Chairman at the helm, will know how to face the challenges that the energy transition entails."
About the Red Eléctrica Group
The Red Eléctrica Group, through is subsidiary Red Eléctrica de España, is the company responsible for the transmission of electrical energy and proper functioning of the electricity system nationwide. With nearly 44,000 kilometres of high voltage electricity lines, which form a meshed, robust and reliable grid that offers the highest level of service quality indices, it guarantees the continuity and security of the electricity supply at all times while maintaining the balance between generation and consumption. It is also responsible for managing the development of the transmission grid, carrying out its functions under the principles of neutrality, transparency, independence and economic efficiency with the aim of contributing to providing a quality, efficient and sustainable electricity service.
Additionally, Red Eléctrica has an international presence, being one of the main owners and managers of transmission grids in southern Peru and northern Chile. In the telecommunications sector, the Group is the largest neutral carrier and owner of the most extensive fibre optic networks in Spain.
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