At the meeting of Ingeteam's Board of Directors held on 20th May 2015, MS. Teresa Madariaga was unanimously appointed as Ingeteam's new Chairwoman. Ms. Teresa Madariaga replaces Mr. Javier Madariaga, one of the founding members, who, together with Mr. Bitor Mendiguren, are retiring from office after 43 years of service to the Company.

Ms. Teresa Madariaga, a member of the Board of Directors since May 2014, is a graduate in Business Administration and holds a diploma in Actuarial Sciences from the University of the Basque Country, with a postgraduate qualification in Applied Economics from the Catholic University of Leuven (Belgium). She has worked as an expert actuary in the markets of the United States, United Kingdom and Spain.

The Board would like to thank Mr. Javier Madariaga and Mr. Bitor Mendiguren for all their work at the head of the organisation, following a whole life of leadership and dedication to the Company.