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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Banco Santander, S.A.    SAN   ES0113900J37

BANCO SANTANDER, S.A.

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Banco Santander : Santander CEO Marin to Be Replaced -- Update

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11/25/2014 | 05:55am EDT
By Christopher Bjork 

MADRID-- Banco Santander SA on Tuesday replaced its chief executive with its long-standing finance chief and made several changes to its board of directors, in the first major shake-up at the eurozone's largest lender since Ana Botín took the reins following her father's death.

Javier Marín will leave the bank after less than two years as CEO, to be replaced by Jose Antonio Álvarez, who has spent the past 10 years as the lender's finance chief, the bank said in a statement. It didn't elaborate on the reasons behind Mr. Marín's departure.

Ms. Botín, who was chosen as executive chairman in September following the death of her father Emilio Botín from a heart attack, also elevated one of her top lieutenants, José García Cantera, to the post of chief financial officer. Mr. García Cantera was CEO of Banesto, a former unit of Santander, when Ms. Botín chaired that bank.

The moves show Ms. Botín is surrounding herself with her allies, shaking up a board that her father built up over decades.

The Spanish banking giant also announced the appointments of Bruce Carnegie-Brown as first deputy chairman and lead independent director of the board. Mr. Carnegie-Brown is chairman of Moneysupermarket.com, a U.K. price comparison website, and a board member at Santander's U.K. unit, which Ms. Botín led before she got the top post at Santander.

Santander also named Catalan businesswoman Sol Daurella, who chairs the Coca-Cola bottling company in Spain and Portugal, and Carlos Fernández González, a Mexican national who is a former top executive of beer maker Grupo Modelo, as independent directors. Mr. Fernández is a current member of the board of Santander Mexico.

Santander named Rodrigo Echenique, a nonexecutive board member, as deputy chairman.

The changes will take effect on Jan. 1, Santander said.

"On behalf of the board, I would like to express our gratitude to Javier Marín, for his great work for Banco Santander for 23 years and especially for his service as CEO," Ms. Botín said.

Mr. Marín, a former chief of staff to Mr. Botín, was named CEO in April 2013.

Write to Christopher Bjork at christopher.bjork@wsj.com

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Financials (EUR)
Sales 2020 48 654 M
EBIT 2020 25 914 M
Net income 2020 6 724 M
Debt 2020 -
Yield 2020 9,11%
P/E ratio 2020 5,19x
P/E ratio 2021 4,93x
Capi. / Sales2020 0,76x
Capi. / Sales2021 0,74x
Capitalization 36 783 M
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Technical analysis trends BANCO SANTANDER, S.A.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 3,94  €
Last Close Price 2,21  €
Spread / Highest target 126%
Spread / Average Target 77,8%
Spread / Lowest Target -18,7%
EPS Revisions
Managers
NameTitle
José Antonio Álvarez Álvarez Chief Executive Officer & Vice Chairman
Ana Patricia Botín-Sanz de Sautuola O'Shea Executive Chairman
Dirk Kudwig Marzluf Group Head-Technology & Operations
José Antonio Garcia Cantera Group Chief Financial Officer
Guillermo de la Dehesa Romero Non-Executive Director
Sector and Competitors