By Jeannette Neumann
MADRID--Ana Botin, executive chairman of Banco Santander SA
(SAN.MC), on Tuesday announced her second major management shakeup
since she took over in September, as she continues to put her stamp
on the eurozone's largest bank by market value.
Juan Rodriguez Inciarte is stepping down from Santander's board
for "personal reasons," Santander said Tuesday in a regulatory
filing. Mr. Rodriguez Inciarte has been a board member since 2008
and was considered by many in Madrid and Barcelona financial
circles to be an ally of Emilio Botin, who died in September and
was replaced by his daughter Ana.
The bank said Mr. Rodriguez Inciarte will leave his role as
senior executive vice-president in December.
The Spanish bank also said that Rami Aboukhair will replace
Enrique Garcia Candelas as Spain country head. Mr. Aboukhair worked
closely with Ms. Botin when she led the bank's U.K. unit for four
years before becoming executive chairman. Mr. Garcia Candelas will
now head Santander's unit in Portugal.
The bank will also create a new and separate board to oversee
Santander's Spain unit. Rodrigo Echenique, considered to be a
longtime confidante of both Mr. Botin and his daughter, will chair
the new board while maintaining his position as vice chairman at
the group level.
"This will bring its governance structure in line with the group
model which exists in other country subsidiaries," Santander said
in a statement.
Javier San Felix will lead the retail bank in Santander's U.K.
unit, and Ignacio Benjumea, general secretary of the board, will be
replaced by Jaime Perez Renovales, who had previously worked at
Santander. Mr. Benjumea will serve on the board of Santander's
Spain unit.
"Our goal in making these changes is to have the best qualified
professionals in the right roles," Ms. Botin said in the
statement.
Write to Jeannette Neumann at jeanette.neumann@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires