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The Foundation 05/30/2019

Ordinary meeting of the Princess of Asturias Foundation Board of Trustees

Held today in Oviedo

©FPA

The Princess of Asturias Foundation Board of Trustees held its annual meeting today at the Reconquista Hotel in Oviedo to approve the accounts, audit report and management report corresponding to the financial year 2018.

Furthermore, the 2018 Annual Report of Activities was presented to the Trustees. Both the report and the financial information, as well as the auditor's assessment regarding said financial year, will be available on the Foundation’s website as of 26th June.

In addition to hearing reports from the institution’s president, Luis Fernández-Vega, and director, Teresa Sanjurjo, the agenda also included the approval of the Regulations governing the 2020 Princess of Asturias Awards and the 2020 Exemplary Town of Asturias Award.

The Board of Trustees also approved the incorporation of Pedro Sainz de Baranda Riva, holder of a Degree in Mining Engineering from the University of Oviedo, a PhD in Materials Science from Rutgers University and an MBA from the Massachusetts Institute of Technology (MIT) (2001), to this governing body, and of Atlantic Copper, represented by its president, Javier Targhetta Roza, as an honorary member of the Princess of Asturias Board of Trustees.

Bio of Pedro Sainz de Baranda Riva

Pedro Sainz de Baranda Riva (Gijón, 1963) graduated as a Mining Engineer from the University of Oviedo (1986), subsequently earning a PhD in Materials Science from Rutgers University (1992) and an MBA from the Massachusetts Institute of Technology (MIT) (2001).

He served as CEO of Otis Elevator Company, based in Farmington (USA), until 2014. A global enterprise, Otis is an industry leader in its sector, operating in more than 200 countries and territories. It has 63,000 employees and sales of around 13,000 million dollars.

Pedro Sainz de Baranda commenced his career in Otis in 1993 in the area of Engineering and R&D, going on to become manager of advanced technologies at the company’s Engineering Centre in the USA. During this period, he headed the development and launch of the key technology for the Gen2 family of elevators, which continues to be the best-selling product in the company’s history. For this work, he received the Mead Medal, the highest technical distinction granted by United Technologies (Otis’ parent company, focused on the aerospace business), and more than 30 international patents.

From 2001, he focused on more commercial and managerial tasks and successively served as director of New Installations in Otis Mexico, chairman and general manager of Otis Portugal, general manager and CEO of Zardoya Otis in Madrid, president of Otis South Europe and the Middle East and, finally, CEO of the company.

He is currently a businessman and co-founder of Sainberg Investments, an investment company that has acquired controlling interests in small and medium-sized Spanish companies. The firm’s current investments include fashion companies, such as Scalpers, MiM shoes, Jorge Vázquez and Victoria, and companies in the food industry, such as Internacional Olivarera, Helados La Ibense and the Black Iron Burger hamburger chain (New York).

He is also a member of the boards of directors of Naturgy, Gestamp and Zardoya Otis, as well as of the Board of Trustees of the Carlos III University of Madrid.

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