Bacon leaves the advice of Santander with 1.6 million euros in shares of the bank | Spanlish


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Wednesday, November 29, 2017

Bacon leaves the advice of Santander with 1.6 million euros in shares of the bank

Isabel Tocino (Santander, 1949) leaves the board of directors of Banco Santander after more than ten years in office, with 1.6 million euros in shares of the bank and after having been paid as a counselor about half a million euros a year since 2013.

On Tuesday, the board of directors of the financial entity, meeting in Brazil, agreed to the resignation of Tocino , also that of Matías Rodríguez Inciarte , and her appointment as vice president of the Santander Spain board and president of Banco Pastor , which is part of the Santander group since June 7, as a result of the acquisition of Banco Popular .

Emilio Botín signed in April 2007 as independent counselor of Santander to the former Environment Minister with the Government of José María Aznar between 1996 and 2000. Until now, Isabel Tocino was the person who had held a position on the board of the bank for the longest time, chaired by Ana Botín , second only to Francisco Javier Botín , who became part of it in 2004. "I'm sure," says the president of Santander in the statement sent yesterday, "that the strength and dedication of Isabel are going to be essential in the whole of Santander Spain and especially in its new responsibility as president of Banco Pastor, which has a large presence in Galicia ".

Tocino is a Doctor of Law and full professor at the Complutense University of Madrid . Besides minister with Aznar, she has been president of the Commission of European Affairs and Foreign Affairs of the Congress of Deputies; president for Spain of Syebel Sistems . Currently, according to Santander's latest corporate governance report, it is an elective member of the State Council , the Royal Academy of Doctors and a non-executive director of Ence and Enagas .
Last June Tocino resigned his position in the board of directors of Naturhouse , after knowing that the president of the dietetic company, Felix Revuelta , had lost more than 40 million euros in Banco Popular.

According to the records of the National Securities Market Commission , Tocino holds 299,740 shares of Santander , which have a value of 1.67 million euros (Santander closed on Tuesday on the stock market at 5.6 euros per share). According to Santander's corporate governance reports, the former Spanish group consultant has been paid as an independent director between 432,000 and 590,000 euros annually since 2013.

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