Mr de Ybarra y Churruca is the Chairman of the Board, having been appointed to the Board in 1990.
He previously held a wide range of senior management positions and was a director of SECEM (Sociedad
Española de Construcciones Electromecánicas), ENDASA (Empresa Nacional del Aluminio, S.A.),
CAMPSA, PETRONOR, PROAS (Productos Asfálticos, S.A.), Española de Minas de Somorrostro,
Bodegas y Bebidas, Naranjales del Río Piedras, Oxígeno del Norte, S.A., Metalquímica de Nervión, S.A.
and Grupo Recoletos. He is a director of Siemens, S.A., Minerales no Férricos, S.A., Metrovacesa, S.A.
and a director of the International newspapers Institute and of the Inter American Press Association.
Mr de Ybarra y Churruca holds a PhD in Industrial Engineering from the Escuela Técnica Superior de
Ingenieros Industriales of Bilbao.
