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Banco Santander reduces its Board of Directors to 16 members

Banco Santander reduces its Board of Directors to 16 members

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Banco Santander reduces its Board of Directors to 16 members

  1. 1. Press Release Banco Santander reduces its Board of Directors to 16 members Antonio Basagoiti, Antonio Escámez and Luis Alberto Salazar-Simpson will leave the Board. Esther Giménez-Salinas will be proposed to the General Shareholders’ Meeting of March, 30th as an independent board member.Madrid, February 28, 2012 - Banco Santander’s Board of Directors will submit to the GeneralShareholders’ Meeting, expected to take place on March 30th, a proposal to reduce the numberof its members from 20 to 16. This reduction is in line with recommendations of goodgovernance codes and international practices.It is expected that Antonio Basagoiti, Antonio Escámez and Luis Alberto Salazar-Simpson willleave their seats in the Board in the upcoming shareholders’ meeting. The Board has proposedthe appointment of Esther Giménez-Salinas, Doctor of Law and Rector of the Ramón LlullUniversity, as an independent director.In 2011, Luis Ángel Rojo passed away. His Board vacancy was filled with the appointment ofVittorio Corbo, whose designation has also been submitted for ratification in the Shareholders’Meeting. Antoine Bernheim, who represented Assicurazioni Generali, also left the Board. In2012, Francisco Luzón took early retirement and gave up his seat on the Board.With the proposals submitted to the Shareholders’ Meeting, the Board of Directors will bereduced to 16 members, of which 5 are executive directors and 11 non-executive directors (1propietary director, 8 independent directors and 2 external non-propietary and non-independentdirectors). Thus, half of the Board will continue to be independent.Antonio Basagoiti will continue as non-executive Chairman of Banesto, while Antonio Escámezand Luis Alberto Salazar-Simpson will join Santander’s international advisory board.The Board of Directors wishes to express its recognition and gratitude to the job carried out bythe outgoing board members.Comunicación Externa.Ciudad Grupo Santander Edificio Arrecife Pl. 228660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11email: comunicacionbancosantander@gruposantander.com

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