The Diplomat
Iberdrola board member José Walfredo Fernández has resigned from his position and member of the Audit and Risk Supervision Committee of the electricity company after being appointed by Joe Biden’s administration.
As reported by Iberdrola to the National Securities Market Commission (CNMV), Fernández has joined the US government as Undersecretary of State for the Economy, Energy and Environment, a position that is incompatible with his duties as a director, which he began to perform in 2015.
The Cuban-American Fernández has previously served as Under Secretary of State for Economic, Business and Energy Affairs of the United States of America.
The United States is one of Iberdrola’s strategic markets and one of its main growth axes, in which it operates through Avangrid -listed on the New York Stock Exchange with a value of more than 20,500 million dollars and assets of 40,000 million dollars-, which will strengthen its position in the renewables market and distribution networks after the acquisition of PNM Resources, the electricity company of Texas and New Mexico.
