Banco Santander reduces its Board of Directors to 16 members

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 General
Shareholders’ Meeting, expected to take place on March 30th, a proposal to reduce the number
of its members from 20 to 16. This reduction is in line with recommendations of good
governance codes and international practices.
It is expected that Antonio Basagoiti, Antonio Escámez and Luis Alberto Salazar-Simpson will
leave their seats in the Board in the upcoming shareholders’ meeting. The Board has proposed
the appointment of Esther Giménez-Salinas, Doctor of Law and Rector of the Ramón Llull
University, as an independent director.
In 2011, Luis Ángel Rojo passed away. His Board vacancy was filled with the appointment of
Vittorio Corbo, whose designation has also been submitted for ratification in the Shareholders’
Meeting. Antoine Bernheim, who represented Assicurazioni Generali, also left the Board. In
2012, 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 be
reduced to 16 members, of which 5 are executive directors and 11 non-executive directors (1
propietary director, 8 independent directors and 2 external non-propietary and non-independent
directors). Thus, half of the Board will continue to be independent.
Antonio Basagoiti will continue as non-executive Chairman of Banesto, while Antonio Escámez
and 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 by
the outgoing board members.
Comunicación Externa.
Ciudad Grupo Santander Edificio Arrecife Pl. 2
28660 Boadilla del Monte (Madrid) Telf.: 34 91 289 52 11
email: comunicacionbancosantander@gruposantander.com