MADRID—Ana Botí n, executive chairman of Banco Santander SA, on
Tuesday announced her second major management shake-up since she
took over in September, as she continues to put her stamp on the
eurozone's largest bank by market value.
Juan Rodrí guez Inciarte is stepping down from Santander's board
for "personal reasons," Santander said Tuesday in a regulatory
filing. Mr. Rodrí guez 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 Botí n, who died in September and
was replaced by his daughter Ana.
The bank said Mr. Rodrí guez Inciarte will leave his role as
senior executive vice president in December.
The Spanish bank also said that Rami Aboukhair will replace
Enrique Garcí a Candelas as Spain country head. Mr. Aboukhair
worked closely with Ms. Botí n when she led the bank's U.K. unit
for four years before becoming executive chairman. Mr. Garcí a
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. Botí n 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 Fé lix will lead the retail bank in Santander's U.K.
unit, and Ignacio Benjumea, general secretary of the board, will be
replaced by Jaime Pé rez 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. Botí n said in the
statement.
Write to Jeannette Neumann at jeannette.neumann@wsj.com
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