6. Corporate Governance
independent 60%
propietary 40% independent 60%
propietary 40%
5 MEMBERS
7 MEETINGS in 2015 5 MEMBERS
6 MEETINGS in 2015
The composition of both the Board44 and its Committees has been designed taking into account criteria of the balance, professionalism, knowledge and experience of its members.
Thus, the professionals that make up these bodies have knowledge on finance, accounting and regulations; they are sector specialists and have international and other types of track records, which favours the adequate performance of Board functions and, as a result, the achievement of Group targets.
José Luis Martínez Dalmau CEO / Chairman
As CEO (Chief Executive Officer), he supervises all corporate development, as well as the projects portfolio.
He has significant experience in operations, institutional relations, business development, corporate governance,
commercial agreements and regulatory analysis. He has managed energy projects at ACS Group for six years. In particular, he was responsible for the construction and operation of ACS’s renewable assets that now form part of Saeta Yield.
Has been Borad Member of Retevisión, AENA (Aeropuertos Españoles y Navegación Aérea), ENA (Empresa Nacional de Autopistas), Mobipay and ESCAL, as well as in many renewable.
Honorato López Isla Non-executive director - Independent
Was CEO and Vice chairman of Union Fenosa S.A., where developed most of his career.
Has been chairman of the telecomm operator R-Cable.
His experience is mainly focused to the electrical sector in Spain and Latam, as well as in sectors like telecomm and information technologies.
José Barreiro Hernández Non-executive director - Independent
Held the role of Managing Director of Bilbao Vizcaya Argentaria, S.A. for over 14 years.
He has been a member of the Boards of Directors of AIAF, MEFF, SENAF, Iberclear, BME and China Citic Bank Corporation. He has been a member of foundations and business schools such as the “Financial Studies Foundation” and “Vermont Academy”.
Daniel B. More
Non-executive director - Independent
Was Managing Director of Morgan Stanley, leading the Group’s mergers and acquisitions globally.
Has been Board Member of the NYISO (New York Independent System Operator) and currently from SJW Corp. His experience mainly focuses on renewable energy project funding. He has also worked with a wide range of clients in regulated industries, including “utilities”, cooperatives and local governments.
44 For further information on the biographies of Saeta Yield directors,
please visit Saeta Yield’s website http://www.saetayield.com/
corporate-governance/biographies/?lang=en
Extract from the biographies of members of
the Board of Directors and the non-director Secretary.
Independientes Dominicales
Secretario no Consejero
6. Corporate Governance
Paul Jeffery
Non-executive director - Independent
Was Managing Director of Investment Banking Division and responsible for the European “Power, Utilities and Infrastructure”
(PUI) team at Barclays Capital. During 15 years as manager of the PUI team, his role included supervising Barclays investment banking transactions in the European sector.
Since 2014, he is a member of the Boards of Directors of both SGN and UK Power Networks, which own and operate regulated gas networks and electricity networks, respectively, in the United Kingdom. and is CFO and Director of several ACS Group companies. He has solid experience in management and funding, as well as deep knowledge of project finance development.
Cristina Aldámiz-Echevarría González de Durana
Non-executive director - Proprietary
She joined ACS in 2001 and is responsible for the Group Corporate Development and Control. She has extensive financial, commercial and management experience, as well as experience in mergers and acquisitions.
She has been a Director of TBI Limited, an international airport infrastructure services company, and of Cleve, S.A., a multi-service company, subsidiary of the ACS Group.
Rajaram Rao
Non-executive director - Proprietary
He joined GIP in 2006 and was elected as partner in 2010. He is a member of the Investment and Operations Committee. In addition, he is also heading the GIP’s energy, water and waste sectors in Europe.
Is vastly experienced in M&A, stock exchange flotations and funding operations for the energy, waste and transport sectors in OECD countries and countries with emerging markets. Has been Board Member of CLH (Compañía Logística de Hidrocarburos).
He is a member of the Board of Directors of East India Petroleum Private Limited, Transitgas/Fluxswiss SA and Gode Wind 1 Investor Holding Company.
Deepak Agrawal Non-executive director - Proprietary
He started working at GIP in 2007 and is currently a Director. His work focuses on European energy sectors.
He has 26 years of experience. Before joining GIP, he worked as financial consultant on the Qatar Petroleum (“QP”) Project Finance team, was Vice Chairman of PSEG India Private Limited. Has been Board Member of CLH (Compañía Logística de Hidrocarburos).
Currently is Board Member of Bow Power.
Luis Pérez de Ayala Becerril Non-director Secretary
Partner of the law firm Cuatrecasas Gonçalves Pereira since 2006, he coordinates the administrative and regulatory law group in Madrid.
He has been director of Legal Services for Gas Supply and Transport, Gas Natural SDG. Similarly, he has been Secretary to the Board of Directors of Enagas, S.A., and Secretary to the Board of Directors of Oficina de Cambios de Suministrador, S.A.
Independent Proprietary
Non-director Secretary
6. Corporate Governance
45 For further information on the biographies of the management team, see the Saeta Yield Stock Market Flotation Brochure, available in http://www.cnmv.es/portal/home.aspx?lang=en
6.1.3. Management Team
45In addition to a solid Board of Directors, Saeta Yield has built up a management team with recognised professionals and with solid experience in the sector.
José Luis Martínez Dalmau