CaixaBank’s Board Proposes Appointment of Five New Directors
CaixaBank’s Board of Directors has recently approved a proposal to appoint five new directors to fill existing vacancies and to re-elect three current members of the governing body. This decision aligns with the institution’s commitment to corporate governance best practices and maintaining a balanced and diverse leadership team.
During its latest meeting in Valencia, the Board proposed appointing Rosa María García Piñeiro, Luis Álvarez Satorre, and Bernardo Sánchez Incera as independent directors. Additionally, Pablo Forero Calderón has been nominated under the category of “other external director,” while José María Méndez Álvarez-Cedrón has been recommended as a proprietary director, representing the “la Caixa” Foundation. Each of these appointments is set for a four-year term.
These proposed appointments aim to fill the vacancies left by the former chairman of CaixaBank, José Ignacio Goirigolzarri, who voluntarily resigned effective January 1. Additionally, independent directors Joaquín Ayuso García, Francisco Javier Campo García, and Eva Castillo Sanz have chosen not to renew their mandates upon their expiration at the conclusion of the 2025 Ordinary General Shareholders’ Meeting. Similarly, José Serna Masiá, a proprietary director representing the “la Caixa” Foundation, has also stepped down with his term expiring at the same shareholders’ meeting.
In addition to these new appointments, the Board has recommended re-electing Koro Usarraga Unsain (independent director), Fernando Maria Costa Duarte Ulrich (other external director), and Teresa Santero Quintillá (proprietary director representing the FROB and BFA) for another four-year term.
This restructuring ensures that CaixaBank’s Board of Directors retains its current 15-member structure, with independent directors continuing to comprise 60% of the Board. Furthermore, gender diversity remains a priority, with 40% of the board members being women. The composition of the Board is also complemented by existing members, including Tomás Muniesa (chairman and proprietary director), Gonzalo Gortázar (CEO and executive director), and independent directors Eduardo Javier Sanchiz Irazu, María Verónica Fisas Vergés, Cristina Garmendia Mendizábal, Peter Löscher, and María Amparo Moraleda Martínez.
Profiles of the New Directors
Rosa María García Piñeiro (Independent Director)
Born in Villalba, Lugo, in 1974, Rosa María García Piñeiro holds a degree in Industrial Engineering. She currently serves as an independent non-executive director at ACERINOX (Spain), where she is a member of the Executive Committee and chairs the Sustainability Committee. Additionally, she holds similar roles at Ence Energía y Celulosa, powerco SE, and various advisory boards, including the Centre de Genève pour les Entreprises et les Droits Humains. With a career deeply connected to sustainability, she has held senior positions at ALCOA Group, overseeing sustainability initiatives.
Luis Álvarez Satorre (Independent Director)
Born in Madrid in 1961, Luis Álvarez Satorre is a Telecommunications Engineer. He currently chairs NEORIS for EMEA and serves as the non-executive chairman of several companies specializing in underwater infrastructure and telecommunications. From 2020 to 2022, he was CEO of SIA, a cybersecurity firm within the Indra Group. With nearly two decades of experience at BT Global Services, where he also served as CEO from 2012 to 2017, he brings extensive expertise in digital transformation and technology services.
Bernardo Sánchez Incera (Independent Director)
An economist born in Santander in 1960, Bernardo Sánchez Incera has extensive experience in the financial sector. He is the non-executive chairman of the Board of Directors of COFACE, an independent director of Edenred S.A., and holds board positions at Boursorama S.A. and Compagnie Financière Richelieu. He has served in senior executive roles at Société Générale Group, Monoprix Group, and Vivarte Group, among others. His deep knowledge of international banking and corporate leadership enhances CaixaBank’s strategic capabilities.
Pablo Forero Calderón (Other External Director)
Born in Madrid in 1956, Pablo Forero Calderón is an economist with a distinguished career in banking and asset management. He currently chairs CaixaBank Asset Management and serves as an independent director at Grupo Jose de Mello and HSBC Continental Europe. From 2017 to 2020, he was CEO and executive deputy chairman of Banco BPI. Prior to that, he held leadership roles at CaixaBank, JP Morgan, and Manufacturers Hanover Trust Co., specializing in risk management, treasury, and investment.
José María Méndez Álvarez-Cedrón (Proprietary Director)
Born in Lugo in 1966, José María Méndez Álvarez-Cedrón holds degrees in Law and Political Science and Administration. Currently, he is the CEO of Cecabank, general director of CECA, and vice chairman of the European Savings and Retail Banking Group. His expertise in financial policy stems from years in public administration, having worked in the Spanish Treasury and Financial Policy Department before joining CECA.
Strategic Importance of These Appointments
These appointments are in line with CaixaBank’s broader strategy of enhancing governance and reinforcing its leadership team with individuals who bring valuable experience from various sectors, including finance, technology, sustainability, and corporate management. By strengthening the composition of the Board, CaixaBank aims to continue its trajectory of innovation, risk management, and sustainability in the banking industry.
The proposed changes will be officially presented for approval at the Annual Ordinary General Shareholders’ Meeting scheduled for April 11, 2025. If confirmed, the new Board members will contribute to CaixaBank’s long-term strategy while upholding its commitment to good governance and corporate responsibility.
With a well-balanced Board structure, CaixaBank ensures that it remains positioned to navigate evolving financial landscapes while maintaining a firm focus on shareholder value, customer service excellence, and sustainable business practices.
