He was born in Píllaro, Tungurahua on January 24, 1926. He attended Mejía High School in Quito and the Escuela Superior Naval "Comandante Rafael Morán Valverde" and graduated from the Escuela Nacional de Náutica Manuel Belgrano (ESNN). In his navy career he became commander of the First Naval Zone and commander of the Marine Infantry Battalion.
He came to power in a military coup and was appointed chairman of the Supreme Council of Government. This Troika had two other members; general Guillermo Durán Arcentales and general Luis Leoro Franco. The triumvirate structured a plan for return to democratic government that led to multiparty general elections after a Referendum on a choice of constitutions between a new one created by a Constitutional assembly appointed by the Triumvirate and the constitution of 1948 with several reforms. The 1979 constitution was adopted. The referendum lead to Multi-party General Elections among some twenty recognized political parties and the populist lawyer from Guayaquil Jaime Roldós Aguilera was elected President of Ecuador.
Upon return to a democratic system Admiral Poveda withdraw from public life and took residency in Florida where he died.
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