Isabel Linares (August 2014)

Isabel Linares
e-mail: isabel.linares.liebana@es.pwc.com
linaresliebana@gmail.com
Office: (+34) 915685786; Cell: (+34) 656858420

A former CEO with broad strategic and functional experience both in public and
private sector and a deep knowledge of the diverse industries she has worked
in: TV media, healthcare, insurance and technology. She has served on many
private boards. She has an extended professional career in leadership and
management working across several geographies.
Business Experience
Feb 2012: General Manager, Public Sector Center, PwC IE Business School (Madrid,
Spain), a research and education institution. On her arrival, Isabel designed and set up
the Executive Program for Public Leadership, for senior executives in the public sector
and government officials faced with strategic and managerial challenges. It aims at
obtaining meaningful results in the transformation of the Spanish Public Sector. She is
also Senior Counselor of PwC advising on Health, Government and Media.
20072011: CEO of Telemadrid and Onda Madrid, a public broadcaster. The main
business challenge was transforming the TV broadcaster within a complex audiovisual
landscape. Her leadership strength of managing people in a changing environment, with
a high political and trade union component, was vital in obtaining operational and cost
efficiency and in achieving the budget.
20062007: President Sanitas Foundation. Isabel had created the Foundation back in
1996 and held various positions since then. Her continued involvement and focus assured
that the Foundations objectives of promoting medical and healthcare research and
education, through programs that, in the long term, are reflected in better quality care
for patients, were aligned to BUPA Sanitas strategy.
2006-2007: Non-executive member of the Board of Director of Sanitas Seguros SA, the
PMI business in Spain. Independent Director on the Board of IHI Holding Danmark (HQ),
the Danish international health insurance company.
19932006: Deputy Managing Director of Sanitas Group, the number two position of the
whole group, from 2000 to 2006, and Executive President of Sanitas Residencial, from
2004 to 2006, the fast growing nursing home division. Sanitas is the leading private
health insurer and health care provider in Spain and part of The BUPA Group (UK), the
British international healthcare group that serves 14 million customers in 190 countries,
revenues of $15.3 billion, underlying profit before tax of $1.074 million and 62.000
employees. During her time as Deputy MD, Isabel was instrumental in delivering
consistent year-on-year two-digit growth in margins and profits. Isabel was responsible
for leading the Sanitas diversification strategy into health related businesses and the
expansion was primarily done through acquisitions in Care Homes, Workplace Health,
Medical Centers and Wellbeing. She was very active at Group level (HQ London) and
formed part of the corporate Strategy Development Forum, made up of the top 20
executives in The BUPA Group worldwide. Previously Isabel had joined Sanitas as Director
of the Legal Department and Company Secretary of the Board of Directors, after the
acquisition of Sanitas by BUPA, and was given added responsibility as the company
embarked on a successful turnaround and growth strategy: Institutional Relations

Isabel Linares (August 2014)

Director in 1995, Mergers and Acquisitions Director in 1996, Sanitas Foundation in 1996
and New Businesses in 1999.
19761993: Counsel PC Company, IBM Spain, from 1989 to 1993, at a time of fierce
competition in the growing personal computer market. Isabel had joined IBM Spain in
1976 as Attorney in the Legal Department. In 1980 she went on international assignment
and spent two years at IBM Europe HQ in Paris as one of the Attorneys responsible for
coordinating the major antitrust lawsuit brought by the EU Commission against IBM for
abusive competitive practices. During this time more specifically in 1981 and as a result
of the work carried out in this lawsuit IBM Europe presented her with the unique
Exceptional Achievement Award. In 1987 she was appointed Deputy to the CEO of IBM
Spain. Later she was appointed Senior Counsel before joining the IBM PC Company. In all
a successful 17 year career in IBM, both in the domestic operations in Madrid as well as
at international HQ at IBM Europe in Paris before she was headhunted to join BUPA
Sanitas.
Board Experience
Isabel has extensive board experience and has been on numerous Boards since 1993, in
various capacities: Chairman, Non-Executive Director, Independent Director, Executive
Director and also as Company Legal Secretary:
- Chairman of the Board of Directors of a number (5) of BUPA Sanitas Group Companies.
- Non-Executive Director on the Board of a number (6) of BUPA Sanitas group companies.
- Non-Executive Director, International Health Insurance Danmark, IHI with HQ in
Copenhagen, Denmark.
- Non-Executive Director, Asap Spain Overseas Investments, S.L.
- Executive Director on the Board of Telemadrid (TV channels).
- Executive Director on the Board of Onda Madrid (Radio stations).
- Non-Executive Director on the Board of Multipark S.A. (an entertainment production
company, producing TV movies and series for the Spanish speaking market).
- Vice Chairman of UNESPA Health Association, Spanish representative on the European
Insurance Committee (CEA), Paris, France.
- President of Forta, the Spanish Federation of Public Broadcasting TVs and Radios.
Educational and Non-profit Board Experience
Member of the IESE Business School Advisory Board; Member of the IE Business School
Advisory Board for the MET Program (mentoring for women MBA students); Member of
the Madrid Board of the Spanish Cancer Association; Trustee of Teatro Real, the Madrid
Opera House; Trustee of Madrid Olympic Foundation. Currently Isabel is on the board of
Sanitas Foundation and of Integra Foundation.
Education
Isabel attended the inaugural class of On the Board during 2013, a globally focused
comprehensive training, advocacy and placement program for female talent who are
prime candidates for service on corporate boards, at the George Washington School of
Business, forming part of a cohort of 15 women.
Isabel has a Law Degree and Masters from Madrid Complutense University, PADE from
IESE Business School, AMP from Wharton, University of Pennsylvania, diploma in
European Community Law from Kings College, London University.
Awards
In October 2012 she was appointed one of the Top Ten Women Executives, within the
Top 100 most influential women in Spain. In 2003 she was appointed Women Executive
of the Year 2003 by ASEME (Spanish Association of Women in Business). The Award aims
to raise public awareness of the outstanding role and contribution of women in business
to the advancement of society as a whole. In 2002 she was a finalist in the European
2

Isabel Linares (August 2014)

Women of Achievement Awards (London) In recognition of an outstanding contribution

to pan-European understanding and progress that provides an inspiration to others.
Other Activities
She is also President of Isotes, an independent group of executive women dedicated to
advancing the progress of women in corporations. She is co-author of the report Women
Executives in Spain (March 2012) and Inspiring: Successful Business Cases (March
2014). Her commitment over the years is well known and she is on the Expert Committee
on Gender Issues of the Spanish Government.
Professional Membership
Lawyer, Madrid Bar Association (Colegio de Abogados de Madrid)
Graduate Member Spanish Institute of Board Directors (IC-A Instituto de ConsejerosAdministradores)
Member of the Board of IWF, International Womens Forum, Madrid Chapter
Languages
Spanish: Mother tongue
English: Bilingual, native speaker level
French: Professional Competence