ACCIONA is one of the foremost Spanish business corporations, leader in the development and management of infrastructure, renewable energy, water and services. Listed on the selective Ibex-35 stock exchange index, it is a benchmark for the market. Less than a decade ago, ACCIONA was one of the main construction companies in Spain, but by immersing itself in a process of diversification and looking for business opportunities at the international level, ACCIONA has succeeded in reinventing itself. During 2008, and after exiting Endesa in 2009, ACCIONA completed its transformation into a pioneering company in development and sustainability, converting itself into a global leader in the development, production and management of renewable energies, water and infrastructures with the minimum environmental impact. This journey would not have been possible without ACCIONA's pioneering tradition. It was behind the first merger in the Spanish construction market and, during the 1990s, was also the first non-utility to adopt a strategy based upon renewable energies. José Manuel Entrecanales was appointed Chairman in 2004, leading the transformation of the Company to three pillars of growth: infrastructure, energy and water. This change was reinforced in 2005 through an innovative positioning strategy based upon the orientation of these businesses towards sustainable development with a strong global vocation. This profound transformation was also possible thanks to an enormous investment effort, a decided commitment to innovation and the social commitment to create quality employment.