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The Foundation 12/16/2020

Ordinary meeting of the Princess of Asturias Foundation Board of Trustees

Held today via video conference


The Princess of Asturias Foundation Board of Trustees held its ordinary meeting corresponding to the second half of the year online today, during which it approved the budget and action plan for 2021 and was informed of the activities undertaken this past year and of the Foundation’s financial situation and assets.

The Foundation’s president, Luis Fernández-Vega, and director, Teresa Sanjurjo, gave a detailed account of the activities undertaken by the Foundation throughout the year, focussing especially on the presentation of the Princess of Asturias Awards and the cultural events leading up to this event, as well as the impact all these activities have had in the media.

The report includes information on participation at the cultural events organized around the presentation of the Awards last October, attended by more than 20 000 people (almost 5000 in person and more than 15 000 online), as well as an economic evaluation of the news generated by the Foundation in the Spanish media during the month of October, which amounted to 20 393 400 euros according to data provided by media monitoring consultants Kantar Media.

Following the agreement adopted by the Board of Trustees in May, the meeting reviewed the suspension of the Foundation’s choirs and, taking into consideration the current situation of the health emergency, the decision was made to maintain the suspension and re-evaluate it at the next meeting.

Budget 2021 and incorporations to the Board
The Board of Trustees unanimously approved the action plan and budget for 2021, amounting to 5 million euros, which supposes a 10% reduction with respect to the previous year’s budget but once again reflects the institution’s budgetary independence, with 85.5% of income coming from the private sector and 14.5% from the public sector.

At its meeting, the Board of Trustees also approved the incorporation into this governing body of José Antonio Fernández Rivero, in a personal capacity, and of El Corte Inglés as a member of the Princess of Asturias Board, on a rotating basis, which will be represented by its president, Marta Álvarez Guil.

Biographical note on José Antonio Fernández Rivero

Former member of the board of BBVA (2004-2018), where he chaired the Risk Committee and was Coordinating Director, José Antonio Fernández Rivero holds a degree in Economics from the University of Santiago de Compostela and an MBA from the College of Europe (Bruges, Belgium).

He joined Arthur Andersen in 1976 and subsequently took charge of management and control of the International Division at Banco de Vizcaya. In 1986, he became chair of the steering committee of Banque de Gestion Financière S.A. (Belgium).

After a period in the sub-directorate general for Planning and Control at Banca Comercial and in territorial management of Retail Banking at BBV, he joined the Banco Exterior de España as comptroller general, a position he also held at Corporación Bancaria de España (Argentaria) from 1991 to 1995, following which he was appointed general manager of Internal Control and Oversight at the same bank. Two years later, he assumed the duties of General Manager for Organization, Systems, Operations, Human Resources, Procurement and Real Estate.

After Argentaria merged with BBV, he was appointed general manager of Systems and Operations at BBVA. On behalf of this financial institution, he has sat on the boards of Telefónica, Iberdrola and Banco de Crédito Local and has chaired Adquira.

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