Banco Santander S.A. Changes in the composition of the Board (1882N)
15 Enero 2019 - 11:37AM
UK Regulatory
TIDMBNC
RNS Number : 1882N
Banco Santander S.A.
15 January 2019
MATERIAL FACT
Banco Santander, S.A. ("Banco Santander") informs that its board
of directors, at the proposal of the appointments and the
remunerations committees, resolved in a meeting held today not to
proceed with the planned appointment of Mr. Andrea Orcel as Chief
Executive Officer of the Group.
This decision is due to the change, after the discussions held,
of the basis upon which the Board initially decided to appoint Mr.
Orcel and the fact that the costs of compensating him for past
remuneration cannot exceed those corresponding to the original
understanding.
Mr. José Antonio Álvarez Álvarez will continue in the role of
CEO of Santander Group and shall also serve as Vice Chairman of
Banco Santander, and shall not serve as Chairman of Santander
España.
Mr. Rodrigo Echenique Gordillo, who is due to retire from his
current role as Chairman of Santander Spain in March, will remain
until a successor is named, and shall continue to be Vice Chairman
of Banco Santander.
After these decisions, the Vice Chairmen of Banco Santander
shall be Mr. Bruce Carnegie Brown, Mr. Rodrigo Echenique Gordillo
and Mr. José Antonio Álvarez Álvarez.
Boadilla del Monte (Madrid), 15 January 2019
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END
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