3rd December 2019

Luis Isasi to become non-executive chairman of Santander Spain

Banco Santander’s Appointments Committee has proposed Luis Isasi Fernández de Bobadilla as a new director of Banco Santander and non-executive chairman of Santander Spain. He will join the board once all regulatory approvals are obtained. This appointment will be submitted to the next General Shareholders' Meeting of Banco Santander in 2020.

Mr Isasi will replace Guillermo de la Dehesa, who has been a director since 2002, on the board of Banco Santander. He also assumes the position of non-executive chairman of Santander Spain, held to date by Rodrigo Echenique, who announced his intention to step down as chair at the beginning of the year once a successor was appointed. Mr Echenique continues to be a director of Banco Santander.

During his career, Mr Isasi has worked with a range of leading Spanish companies, participating directly in the most important corporate transactions. He holds a business degree from the University of Seville and an MBA from Columbia Business School (New York). He has also served as a director of Madrileña de Gas and Madrid Stock Exchange and is today independent director of Grifols.

Banco Santander’s Group Executive Chairman, Ana Botín, said: “It is not easy to replace Rodrigo and Guillermo. I am certain, however, that the experience, knowledge of the Spanish market and international vision of Luis Isasi will add great value to the Group and to Santander Spain. As Chairman of Santander Spain, Rodrigo has played a critical role in the acquisition and integration of Banco Popular.

"Now this integration has been completed successfully, a new period starts in which Luis's contribution, working as a team with Santander Spain’s country head, Rami Aboukhair, will be essential for Santander to continue growing and consolidating itself as the leading retail and commercial bank in Spain. I would also like to extend huge thanks to Guillermo for his great contribution to the Group for many years."