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Santander proposes Héctor Grisi as new CEO to replace José Antonio Álvarez

The board of directors of Banco Santander has proposed Héctor Blas Grisi Checa, current CEO of Santander México and head of the North America region, as CEO of the Group and member of the board of the entity with effect from January 1, 2023 , subject to the corresponding approvals, as announced by the entity.

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Santander proposes Héctor Grisi as new CEO to replace José Antonio Álvarez

The board of directors of Banco Santander has proposed Héctor Blas Grisi Checa, current CEO of Santander México and head of the North America region, as CEO of the Group and member of the board of the entity with effect from January 1, 2023 , subject to the corresponding approvals, as announced by the entity.

Grisi will report directly to the board, in line with Santander's new management structure announced on February 24 this year, and will be responsible for all regions, countries and global businesses.

This proposal, according to the bank, comes after a "rigorous" succession process carried out by the board's appointments committee.

Specifically, Grisi will succeed José Antonio Álvarez, who joined the Group in 2002. In 2004, he was appointed CFO and in 2015 CEO.

After the transition period, Álvarez will continue on the board of directors as non-executive vice president.

"I am very grateful to José Antonio for everything he has contributed to the Group over the last 20 years. His leadership and dedication have been fundamental to the success of Santander and he has been a very important support for me over the years. I am delighted that remain on the board as non-executive vice chairman and I am sure that he will continue to be key to Santander's growth in the coming years," said the chairwoman of Banco Santander, Ana Botín.

"I have great confidence in Héctor. He has decades of experience and in-depth knowledge of our markets and our lines of business. In addition, over the years he has demonstrated his leadership, teamwork and ability to create value for our clients and shareholders. His excellent His results as CEO of Santander Mexico and head of North America speak for themselves and are the best example of why the board has chosen him to lead the bank in this new phase of growth and transformation," added Botín.

For his part, the new CEO, Héctor Grisi, stated that "it is an honor" to succeed Álvarez and "to have the opportunity to continue building on the successes achieved by Ana and him in recent years".

"The size, diversification and focus on the client give us growth opportunities that are not easy to replicate. I am looking forward to starting to work with the entire team and I have no doubt that we have the strategy, the business model and the talent necessary to generate value and deploy our full potential", Grisi underlined.

For his part, Álvarez stated that it has been a privilege to be part of the Santander team over the last 20 years.

"Santander is a great organization, and I will always be immensely grateful to all the colleagues and friends with whom I have worked. I am very proud of what we have achieved together and I have full confidence that under the leadership of Ana and Héctor the bank will continue to grow and reaping success", said the outgoing CEO, who has assured that in the coming months he will work with Grisi "so that the transition is orderly" and from next year he will continue to support the growth and development of the group as non-executive vice president.

The process of succession of Héctor Grisi as CEO of Santander Mexico is already underway and the bank will communicate it once it is finished.

On the other hand, R. Martín Chávez, who is currently an external director of the bank, will leave the board on July 1, 2022.

Chávez will continue to attend the meetings of Santander's International Advisory Council and will continue as a director of PagoNxt, the Group's payment business.

"I want to thank Marty Chávez for his great contribution in the years in which he has been a director. His judgment and experience have been invaluable in guiding the bank's digital transformation", Botín pointed out.