Business
CaixaBank S A : Board of Directors appoints Peter Löscher as Deputy Chairman
CaixaBank S A : Board of Directors appoints Peter Löscher as Deputy
About this update from Caixabank Sa
Löscher, who has been an independent director of the company's Board of Directors since 2023, replaces Amparo Moraleda The Board has also agreed to re-elect Eduardo Javier Sanchiz as lead independent director for a further three-year term The Board of Directors of CaixaBank has agreed to appoint Peter Löscher as a Deputy Chairman of the financial institution in its meeting today, held after the celebration of the General Shareholders' Meeting. The appointment comes after the favourable report and proposal made by the Appointments and Sustainability Committee. Löscher, who has been an independent director of CaixaBank's Board of Directors since 2023, replaces Amparo Moraleda, who tendered her resignation to the charge with effect from the conclusion of the Ordinary General Shareholders' Meeting, as next April will mark twelve years since her initial appointment. Peter Löscher, born in Austria in 1957, has an extensive and recognised career in the management field and on the boards of directors of large international corporations. Löscher has a solid background in Economics and Business Administration, having studied at the University of Vienna, the Chinese University of Hong Kong and the Harvard Business School. His career combines leadership in large multinationals, presence in corporate governance bodies and a marked global approach after having developed his professional activity in Europe, the United States and Asia. He is currently an independent non-executive director of Telefónica, S.A. and Chairman of the Supervisory Board of Telefónica Deutschland Holding AG. He's also a member of the Supervisory Board at Royal Philips and non-executive director of Thyssen-Bornemisza Group AG. Throughout his career, he has held top-level positions at leading companies, such as Chairman and chief executive of Siemens AG, CEO of Renova Management AG, and chief executive in strategic areas at Merck & Co., General Electric and Amersham. He has also chaired and been a member of the Board of Directors of Sulzer and of the Supervisory Board of Deutsche Bank and OMV. To add up to this experience he has also been part of foundations, academic advisory boards and numerous honorific distinctions and doctorates, further strengthening its prestige and its contribution to the business and social field. CaixaBank's Board of Directors and Committees' Composition Following the re-election of Tomás Muniesa and Eduardo Javier Sanchiz, the appointment of Ana García Fau, and the ratification and appointment of Pablo Arturo Forero as agreed at today's Ordinary General Shareholders' Meeting, the Board of Directors' composition is as follows: Tomás Muniesa Arantegui Chairman (proprietary) Peter Löscher Deputy chairman (independent) Gonzalo Gortázar Rotaeche Chief Executive Officer (executive) Eduardo Javier Sanchiz Irazu Lead Independent director (independent) Luis Álvarez Satorre Director (independent) Fernando Maria Costa Duarte Ulrich Director (other external) María Verónica Fisas Vergés Director (independent) Pablo Arturo Forero Calderón Director (independent) Ana María García Fau Director (independent) Rosa María García Piñeiro Director (independent) Cristina Garmendia Mendizábal Director (independent) José María Méndez Álvarez- Cedrón Director (proprietary director) Bernardo Sánchez Incera Director (independent) Teresa Santero Quintillá Director (proprietary director) Koro Usarraga Unsain Director (independent) CaixaBank's Board of Directors maintains its 15 members' structure. 10 of these members (67%) are independent Directors, and 40% are women. Similarly, the Board of Directors held after the General Shareholders' Meeting also agreed to re-elect Eduardo Javier Sanchiz as lead independent director for a further three-year period. Finally, the Board of Directors, at the proposal of the Appointments and Sustainability Committee, has agreed to establish the following composition of the Board Committees: Executive Committee Tomás Muniesa Arantegui* Chairman (proprietary) Gonzalo Gortázar Rotaeche Member (executive) Eduardo Javier Sanchiz Irazu* Member (independent) Cristina Garmendia Mendizábal Member (independent) Peter Löscher* Member (independent) Koro Usarraga Unsain Member (independent) *The Board of Directors has agreed to appoint Peter Löscher as a new member of the Committee, as well as the re-election of Tomás Muniesa Arantegui and Eduardo Javier Sanchiz Irazu, as a Chairman and member respectively, after its re-election as members of the Board by the General Shareholders' Meeting. Appointments and Sustainability Committee Peter Löscher* Chairman (independent) Eduardo Javier Sanchiz Irazu* Member (independent) Fernando Maria Costa Duarte Ulrich Member (other external) Pablo Arturo Forero Calderón* Member (independent) Rosa María García Piñeiro Member (independent) * The Board of Directors has agreed to appoint Peter Löscher as Chairman of the Committee. Similarly, it has also agreed to incorporate Pablo Arturo Forero Calderón as a new member of the Committee. Eduardo Javier Sanchiz Irazu continues to hold his current position as a member of the Committee, following his re-election as a director by the General Shareholders' Meeting. Audit and Control Committee Eduardo Javier Sanchiz Irazu* Chairman (independent) Ana María García Fau * Member (independent) José María Méndez Álvarez-Cedrón Member (proprietary) Bernardo Sánchez Incera Member (independent) Teresa Santero Quintillá Member (proprietary) * The Board of Directors has agreed to appoint Ana María García Fau as a new member of the Committee, replacing Cristina Garmendia, who stops being member of the Committee. This change is subject to the banking supervisor's verification of Ana Maria García Fau's suitability, and to her not being subject to any type of limitation that may be established by the supervisor in order to incorporate her as a member of the Committee. Eduardo Javier Sanchiz Irazu continues to hold his post as Chairman of the Committee, following his re-election as a director by the General Meeting. Remuneration Committee Cristina Garmendia Mendizábal Chairwoman (independent) Luis Álvarez Satorre Member (independent) Ana María García Fau * Member (independent) José María Méndez Álvarez-Cedrón Member (proprietary) Koro Usarraga Unsain Member (independent) * The Board of Directors has agreed to appoint Ana María García Fau as a new member of the Committee, replacing Pablo Arturo Forero. The incorporation of Ana María García Fau is subject to the verification of her suitability by the banking supervisor and to her not being subject to any type of limitation that may be established by the supervisor to be a member of the Committee. Innovation, Technology and Digital Transformation Committee Tomás Muniesa Arantegui* Chairman (proprietary) Gonzalo Gortázar Rotaeche Member (executive) Luis Álvarez Satorre Member (independent) Cristina Garmendia Mendizábal Member (independent) Peter Löscher Member (independent) Bernardo Sánchez Incera Member (independent) * Tomás Muniesa Arantegui continues to hold his current position as Chairman of the Committee, following his re-election as a director by the General Shareholders' Meeting. Risks Committee The composition of the Committee remains unchanged. Koro Usarraga Unsain Chairwoman (independent) Fernando Maria Costa Duarte Ulrich Member (other external) María Verónica Fisas Vergés Member (independent) Pablo Arturo Forero Calderón Member (independent) Rosa María García Piñeiro Member (independent)