YPF's Gonzalez Said to Emerge as Leading Interim CEO Candidate
Friday,18/03/2016|20:14GMTby
Bloomberg News
YPF SA Chief Financial Officer Daniel Gonzalez Casartelli is leading a shortlist of candidates to become interim chief executive...
YPF SA Chief Financial Officer Daniel Gonzalez Casartelli is leading a shortlist of candidates to become interim chief executive officer of Argentina’s largest company, according to three people with knowledge of the situation.
Gonzalez, a former executive with Bank of America Corp., is at the top of a list that includes Jesus Grande and Carlos Alfonsi, said the people, who asked not to be named because the decision still needs to be confirmed by Argentine President Mauricio Macri. The two other candidates currently lead YPF’s exploration and production division and its refining and Marketing units, respectively.
Macri’s administration is seeking new leadership for the oil company, which was nationalized in 2012. Current Chairman and CEO Miguel Galuccio will step down from both roles at a shareholder meeting in April, the company said earlier this month. The government is splitting the roles of CEO and chairman at the company, which reported a 1.7 billion-peso ($115 million) net loss for the fourth quarter, it’s first in at least a decade.
If approved by the president, Gonzalez, 46, will be appointed interim CEO while the company finishes a 90-day recruiting effort to find a permanent replacement. He is expected to seek the permanent CEO role, the people said.
Gonzalez declined to comment in an e-mail. YPF and the Energy and Mining Ministry also declined to comment.
Gonzalez, a former board member of Pegasus Venture Capital, has the support of cabinet Secretary Mario Quintana, the founder and CEO of Pegasus, said two of the people. Gonzalez holds a degree in business administration from the Argentine Catholic University and is an alumnus of Cardinal Newman high school in Buenos Aires, the same school that Macri and Finance Minister Alfonso Prat-Gay attended.
Guillermo Pereyra, a oil-worker union leader and senator from the region that holds YPF’s largest shale deposit, has pushed for Macri to appoint a CEO with industry knowledge, not a finance expert.
To contact the reporter on this story: Pablo Gonzalez in Buenos Aires at pgonzalez49@bloomberg.net. To contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Tina Davis, Will Wade
YPF SA Chief Financial Officer Daniel Gonzalez Casartelli is leading a shortlist of candidates to become interim chief executive officer of Argentina’s largest company, according to three people with knowledge of the situation.
Gonzalez, a former executive with Bank of America Corp., is at the top of a list that includes Jesus Grande and Carlos Alfonsi, said the people, who asked not to be named because the decision still needs to be confirmed by Argentine President Mauricio Macri. The two other candidates currently lead YPF’s exploration and production division and its refining and Marketing units, respectively.
Macri’s administration is seeking new leadership for the oil company, which was nationalized in 2012. Current Chairman and CEO Miguel Galuccio will step down from both roles at a shareholder meeting in April, the company said earlier this month. The government is splitting the roles of CEO and chairman at the company, which reported a 1.7 billion-peso ($115 million) net loss for the fourth quarter, it’s first in at least a decade.
If approved by the president, Gonzalez, 46, will be appointed interim CEO while the company finishes a 90-day recruiting effort to find a permanent replacement. He is expected to seek the permanent CEO role, the people said.
Gonzalez declined to comment in an e-mail. YPF and the Energy and Mining Ministry also declined to comment.
Gonzalez, a former board member of Pegasus Venture Capital, has the support of cabinet Secretary Mario Quintana, the founder and CEO of Pegasus, said two of the people. Gonzalez holds a degree in business administration from the Argentine Catholic University and is an alumnus of Cardinal Newman high school in Buenos Aires, the same school that Macri and Finance Minister Alfonso Prat-Gay attended.
Guillermo Pereyra, a oil-worker union leader and senator from the region that holds YPF’s largest shale deposit, has pushed for Macri to appoint a CEO with industry knowledge, not a finance expert.
To contact the reporter on this story: Pablo Gonzalez in Buenos Aires at pgonzalez49@bloomberg.net. To contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Tina Davis, Will Wade
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
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#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown