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The company also incorporates two new independent directors

CIE Automotive today has appointed Mr. Fermín del Rio Sanz de Acedo as its new Vice-President. Fermin del Rio has been collaborating with CIE Automotive for more than 30 years in his different professional facets and has held the position of director of the company since 2005. In his new position, he will reinforce his support for the President and CEO in the performance of their duties.

He holds a Bachelor's Degree in Business Administration and Management (San Sebastian), beginning his professional career as a tax advisor in 1975. He founded Norgestión, where he worked until 2008. He was also in charge of the section of ADEGI (Business Association of Guipuzcoa), and was also a member of the Committee of Basque Business Owner Associations (CONFEBASK).                    

In addition, the Board of Directors has incorporated two new independent directors (Ms. María Eugenia Girón Dávila and Ms. Elena María Orbegozo Laborde), replacing Mr. Carlos Solchaga Catalán and Mr. Ángel Ochoa Crespo and has appointed Ms. Arantza Estefanía Larrañaga -until now an independent director of the company- as the new coordinating director.

The Board of Directors' decisions reinforce the composition of this governing body and are framed within CIE Automotive's commitment to comply with the highest standards of good corporate governance by working to ensure a diversity of skills, knowledges, experiences, origins, nationalities, age and gender among the members of the Board of Directors.