BBVA elects Sonia Dulá to its Board, increasing the representation of international and independent directors
BBVA will propose the election of Sonia Dulá to its Board of Directors. Dulá has a deep knowledge of the banking business and extensive experience in key markets for the bank, such as Mexico, South America and Spain. Her appointment will increase to 73 percent the number of independent directors, maintaining a 40 percent of women while reinforcing the international profile of the Board.
BBVA today presented the items on the agenda to be submitted for approval at the next Annual General Meeting, to be held in Bilbao on March 17, 2023. In addition to the appointment of Sonia Dulá as a new board member, the bank is also proposing the reelection of four directors: Raúl Galamba, Lourdes Máiz, Ana Revenga and Carlos Salazar.
Therefore, should the re-election proposals and board member appointment be approved by the Annual General Meeting, the number of independent members on the governing body would increase to 73 percent (11 of 15 members), and the Board would increase its international profile. Furthermore, women representation would remain at 40 percent (six board members) in accordance with the selection, eligibility and diversity policy. Since 2018, and as per the continuing renewal of the Board, BBVA has designated eight new members (not including Sonia Dulá), of which six are independent directors.
Born in Mexico in 1961, Sonia Dulá holds a B.A. magna cum laude in Economics from Harvard University, and an MBA in Finance from Stanford Graduate School of Business. She has an extensive knowledge of the banking business, having held several top executive positions in international financial institutions with businesses in Latin America. She started her career at Pemex, and was later executive director and vice president of Capital Markets for Latin America with Goldman Sachs. She was also CEO with Grupo Terrum, founded two digital companies -Internet Group of Brazil and Obsidian- and was CEO of Grupo Latino de Radio. Dulá later returned to the financial sector, holding key positions in corporate and private banking at Bank of America Merrill Lynch Latin America. Among other positions and responsibilities, she is currently an independent director for Huntsman Corporation, Acciona and Acciona Energía.
Sonia Dulá will replace board member Susana Rodríguez Vidarte. The Board expresses its gratitude to her for an exceptional contribution and dedication to the bank for more than 20 years.
The appointment is subject to review by the European Central Bank regarding the fit and proper regulatory requirements to exercise the role of board member.