parliamentary candidates
The Appointments, Remuneration and Corporate Governance Committee recently approved a slate of five independent director candidates who were shortlisted the previous week. The nominees include four names well known in corporate governance circles, with one standing apart as a former executive from a major telecommunications group. The committee proceeded to formalize the shortlist, excluding only the chairman of Excom and the former director of MásMóvil, Philip Fernandez, from this round of deliberations.
Officials announced that the candidates are Virginia Arce, Olga San Jacinto, Coloma Armero, Axel Arendt, and Belén Amatriain. These profiles will be presented to shareholders for approval at the extraordinary meeting. The exact date will be announced once the Commission selects a replacement for Fernández, a move that the company has communicated to the National Securities Market Commission. The process reflects the firm’s commitment to maintaining a strong, independent board as part of its governance framework.
With the arrival of these profiles, Ignacio Martín will depart from his role. He had served as the Chairman of the Nomination Committee and the independent chair of the board. His departure marks a transitional moment following the most recent general assembly, which concluded a pilot phase and set the stage for renewed oversight and governance alignment.
In a related update, Amber Capital disclosed last Friday that it has secured authorization from the Council of Ministers to hold up to 9.9 percent of the company’s capital, with a potential increase to 5.7 percentage points depending on future actions. This disclosure underscores the active involvement of major shareholders in the company’s governance and strategic direction.
board candidacy overview
Should the list of candidates for the board receive approval, the company anticipates restoring female representation on the board. This follows departures of Isabel Torremocha, Silvia Iranzo, and Carmen Aquerreta in recent months. The nomination committee evaluated the candidates with a focus on technical expertise, governance experience, and regional leadership capabilities to bolster the board’s diversity of experience and perspectives.
The committee’s recommendation includes Bethlehem Amatriain, a former CEO of Telefónica Spain and a former marketing director for the operator who currently holds directorships at Prim and Faes Farma. Also named in the slate is a technology, communications, and entertainment and media partner from PwC, Virginia Maple, bringing a strong professional services perspective to governance and risk management functions.
Additional candidates include two board-ready professionals from professional services and industry leadership backgrounds. One is Coloma Armero, a veteran partner at Uría Menéndez and director for Cemex Latam Holdings. The other is Olga San Jacinto, a mobility and technology advisor affiliated with Nazca Capital and Astara. The slate is completed by Axel Arendt, a high-profile executive with leadership experience at the Rolls-Royce group, adding a global industrial and engineering mindset to the board’s competencies.