Unicaja announces departure of CEO Manuel Menendez

MADRID, June 1 (Reuters) — Spain’s Unicaja on Thursday announced the departure of Chief Executive Officer Manuel Menendez as part of the bank’s plan to revamp its corporate governance structure. Menendez’s departure is set to become effective once a new CEO has been named, the bank said. The lender’s board unanimously voted for the decision with the «aim of making more agile and efficient progress in defining the bank’s governance model», it added in a statement. At the end of 2020, Unicaja announced the acquisition of smaller lender Liberbank to create what was then Spain’s fifth-largest bank with around 110 billion euros ($135 billion) in assets. When the deal was disclosed, the banks said that Unicaja chairman Manual Azuaga would retain executive powers at the combined entity. They also said then that two years after the closing of the merger, which took place at the end of July of 2021, the board would review its corporate governing structure, with the chairperson giving up their executive powers. The banks added they would also review Menendez’s role. (Reporting by Jesús Aguado; editing by David Latona) If you adored this article so you would like to obtain more info with regards to meu structure kindly visit the web site.