Wednesday, September 10, 2014

STEP 3-Santander, dead president Emilio Botin, will succeed him … – Reuters Italy

STEP 3-Santander, dead president Emilio Botin, will succeed him … – Reuters Italy

(Adds comment Montezemolo to death Botin)

MADRID, September 10 (Reuters) – Emilio Botin, one of the most powerful men in Spain – Santander that has turned into one of the largest banks in the euro area – has died of a heart attack at age 79.

The bank has announced that the board of directors will meet today to appoint his successor, and according to two sources will be the daughter Ana Botin to assume the presidency.

“They decided unanimously to Ana Patricia ( Botin), “said one source who has been informed of the deliberations of the Nominating and Compensation Committee which will bring the proposal to the council this afternoon. According to sources, the board of directors approve the proposal for the Presidency to Ana Botin.

The appointment of the eldest daughter of Emilio Botin, currently head of the British branch of Santander, had long been identified by analysts and investors among the most likely solutions to the succession to the top of the Spanish bank.

As another potential replacement is sttao also mentioned the name of Matias Inciarte, 66, a former minister and member of the the board of the bank since 1988, currently second vice president.

Around 14 , the title loses about 0.9% to 7.68 euro.

“It ‘been a man capable of making bank Banco Santander, the most important of our country,” said Spanish Prime Minister Mariano Rajoy to reporters in Parliament. “I met him last week, he was fine, he was in shape. E ‘was a surprise and a shock.”

Luca Cordero di Montezemolo, president of Ferrari’s outgoing which is the Santander sponsor, addressed a greeting to Botin. “I want to remember and thank. Was a real Ferrari and it is in our hearts.” Read more …

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