Soltec appoints its Board of Directors according to the highest standards of Corporate Governance

• The company announced on October 6^th its intention to float in Spain’s Stock Market shortly
• María Sicilia, Nuria Aliño and Fernando Caballero are appointed independent directors, whereas José Morales, Marina Moreno and Marcos Sáez enter as directors representing substantial shareholders in the company’s new highest executive board, chaired by Raúl Morales (co-founder and CEO)
• Soltec’s firm commitment to sustainability, transparency, diversity and independence allows the company to align with the best Corporate Governance practices

Soltec has appointed its Board of Directors, which will be comprised of the co-founder and CEO, Raúl Morales, chairman of the Board, as well as three directors representing substantial shareholders (José Morales, Marina Moreno and Marcos Sáez) and three independent directors (María Sicilia, Nuria Aliño and Fernando Caballero), all with a vast and outstanding professional career.

The company, in its firm commitment to align with the best corporate practices, has managed to significantly surpass existing good-governance requirements established by the CNMV.

By creating a Sustainable Development Committee, Soltec’s management body reinforces the company’s strong commitment in the area of ESG. Furthermore, the company exceeds expectations on diversity, both in terms of training and experience, as well as on the presence of women (43% of the total board directors) and independence (43% of the board directors are independent), which translates into a fully balanced board, which aims to benefit from members’ feedback from a variety of angles.

It is also relevant to note that the Board will have a lead independent director. In the same way, all the advisory committees of the Board are composed mainly and chaired by independent directors.The Board decides that the Remuneration and Appointments Committee are made up exclusively of independent members, in order to ensure maximum independence in this matter.

Diversity and Extensive Experience

Raúl Morales, is Soltec’s co-founder and CEO. He is an industrial engineer with over 20 years of experience in manufacture, 16 of them within the renewable energy sector. Raul served as president of AREMUR (Murcia’s Business Association for Renewable Energies and Energy Savings) and held the post of Vice-president of UNEF (Spanish Photovoltaic Association).

María Sicilia, with more than 20 years of experience in the energy sector, will serve as president of the Appointments and Remuneration Committee. She is currently Head of Strategy and member of the Board of Directors at Enagás, a key international company in gas infrastructures that is listed in Spain’s blue-chip Ibex-35 index. Previously, María worked for many years in high-profile organizations within the power industry, both private and public. She was Assistant Director General of Spain’s Department of Industry, Energy and Tourism, and Head of IDAE’s Administration Board (Spain’s Agency for Renewable Energies and Energy Efficiency). Before that, María held the position of Head of the Foresight Department of Iberdrola Renovables and was a governing body member for key associations within the renewable energy industry (GWEC, EWEA/WindEurope, REN-21 and Asociación Española de Energía Eólica). María also spent a significant part of her professional career in the international arena, namely at the AIE (Spain’s International Energy Agency). Some positions held by María as a high-level public worker are Secretary of State for Energy, within Spain’s Department of Economics, and Councilwoman of Energy at the Permanent Representation of Spain to the European Union, in Brussels.

As for Nuria Aliño, she has been appointed head of the Sustainable Development Commission. Nuria is an investment banking specialist with an extensive and prestigious career of over 25 years both as Managing Director of BBVA Corporate and Investment Banking, and in the Inter-American Development Bank, where it promoted a large number of initiatives in order to promote sustainable development goals in the private sector. In 2016 Nuria joined the World Bank to promote the adoption of disruptive technologies in different industries and countries. Nuria is currently a specialist in digital financial services at the IFC-World Bank, with a focus on digital transformation. She also acts as an active advisor in Open Banking to accelerate financial inclusion, competitiveness and innovation, as well as advisor on corporate strategy and digital strategy in different entities.

Fernando Caballero, appointed lead independent director and President of the Audit Committee, is the Managing Director of Aon in Spain. He joined the company in 2000, and since then he has held a number of managerial positions. Since 2008, he is member of the Aon Global risk consulting team as Managing Director for Spain, and also member of EMEA’s Leadership team for Aon Global Risk Consulting. Before that he worked for more than 8 years in large accounting and consulting firms such as KPMG and Deloitte. Additionally, he has participated in high performance management programs with the University of Harvard. Fernando is Auditor inscribed in ROAC (Spain’s Official Registry of Accounting Auditors) and member of the Advisory Council for AGERS (Spanish Association of Risk Management and Insurance). Fernando regularly gives lectures and classes at Universities and Institutions in relation to risk management, internal control and corporate governance.

Proprietary directors are José Morales, Marina Moreno and Marcos Sáez. José Morales is an economist and has over 42 years of experience in tax and accounting consultancy, and 36 years of expertise in accounts auditing. As for Marina Moreno, she has more than five years of experience in various management roles within financial departments. Lastly, Marcos Sáez will bring to Soltec’s highest executive body a solid path of more than 23 years in finance as CFO and Managing Director of Zukan and Grupo Corporativo Sefran. At the moment, Marcos is the Executive Director of Zukan since 2016.