Héctor Grisi Nominated to Succeed José Antonio Álvarez as Banco Santander CEO

Héctor Grisi will assume the CEO role at Banco Santander (NYSE: SAN) on 1 January 2023, “following a transition period, subject to customary approvals.”

Mr. Álvarez will “remain on the board and serve as non-executive vice chair.”

Mr. Grisi joined Santander in 2015 as CEO of Santander Mexico and was “appointed head of the Santander group’s North America region in 2019.”

The board of Banco Santander confirmed on June 17, 2022 that Héctor Blas Grisi Checa, currently CEO of Santander Mexico and head of North America, has been “nominated to become Group Chief Executive Officer (CEO) and a group director, effective 1 January 2023, subject to customary approvals.”

Grisi will “report directly to the Board, in line with changes to the group’s management structure announced on 24 February 2022, with responsibility for managing all the group’s regions, countries and global businesses.”

The nomination has been “made following a rigorous assessment process led by the Board Nominations Committee.”

Grisi will “succeed José Antonio Álvarez who has been with the bank since 2002 and was appointed Chief Financial Officer in 2004 then CEO in January 2015.”

Following the transition, Mr Álvarez will “remain on the Board as non-executive vice chair.”

The Nominations Committee has worked intensively “to identify and assess a broad range of internal and external candidates for the CEO role, with the support of external advisors.”

Héctor Grisi is “a seasoned expert who knows our business and is the right person to lead the bank with Ana.”

He brings a relentless focus “on the customer, proven leadership in driving transformation and greater connectivity across the group, and a strong track record of delivering growth and profitability.”

Bruce Carnegie Brown, Lead Independent Director and chair of the Board Nomination Committee, said:

“On behalf of the Nominations Committee, I would like to extend my sincere thanks to José Antonio for his outstanding contribution to the group. During his tenure, the bank has increased the number of customers it serves by nearly 40 million, while driving significant improvements across key performance metrics and transforming its capital strength. We look forward to continuing to benefit from his experience and expertise on the board.”

Ana Botín, Banco Santander executive chair, stated:

“I am extremely grateful to José Antonio for the exceptional contribution he has made to the bank over the past 20 years. His leadership and dedication have been central to Santander’s growth and success. I value his insight and support hugely and am delighted that he will remain on the Board as non-executive vice-chair and will continue to support the bank as we build on the progress of recent years. Héctor will be an outstanding successor to José Antonio.”

Botin added:

“He brings decades of experience and a deep understanding of our markets and business, and a proven ability to lead in a collaborative way and create value for both customers and shareholders. His track record as CEO of Santander Mexico and head of North America speaks for itself and illustrates why we believe he is the right person to lead the bank in the next phase of our transformation and growth.”

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