Sánchez Galán earned 13 million in 2022, 1% less than a year earlier

The executive president of Iberdrola, Ignacio Sánchez Galán, received a total remuneration in 2022 for the exercise of his duties of 13.06 million euros, which represents a decrease of 1.1% compared to the 13.2 million received a year before.

According to the annual report on remuneration, sent this Friday by the electric company to the National Securities Market Commission (CNMV), 6.34 million of his remuneration corresponded to cash remuneration;

6.32 million to the gross profit of the shares or consolidated financial instruments;

and 389,000 euros, to his belonging to the boards of directors of subsidiaries of the group (the American Avangrid and the Brazilian Neoenergia).

In 2022, the average salary cost of each Iberdrola employee was 83,000 euros.

That is, 157 times less than that of its CEO.

In 2021, the difference was 171 times.

The CEO of Iberdrola, Armando Martínez, named

by Sánchez Galán last fall, received 3.24 million.

The former Director of Business, Francisco Martínez Córcoles, who ceased as a director on October 25, 2022 —just when Martínez assumed the reins of day-to-day business—, received a total of 1.41 million.

Due to his dismissal as a director, Martínez Córcoles was compensated with 297,000 euros.

In total, the remuneration of the board of directors of Iberdrola amounted to 22.52 million euros in 2022, of which more than half corresponded to the salary of its president.

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