Santiago Bergareche gives way to Ignacio Ybarra in front of Vocento

Santiago Bergareche gives way to Ignacio Ybarra in front of Vocento

The President of Vocento and representative of one of the founding families of the Editorial Group, Santiago Bergareche, confirmed on Tuesday in the Board of Directors held in Bilbao his decision to leave the presidency on December 31st. Bergareche, who continues as a Director, had already expressed his willingness to step aside at the General Meeting in April of this year.

On January 1, 2019 Ignacio Ybarra will assume the presidency, also belonging to one of the founding families. Ybarra has been a Director of Vocento in two periods, the last one since April 2015. The Board of Directors appointed him Vice Chairman on July 27, 2017 at the proposal of Santiago Bergareche with the intention of succeeding him. The appointment was approved unanimously.

Santiago Bergareche chairs Vocento since February 2015, when he replaced Rodrigo Echenique, and under his mandate the Group has consolidated its undisputed leadership in the Spanish press, has reduced debt outstandingly, has undertaken an unprecedented effort in the digital transformation, It has returned the company to the path of benefits and promoted diversification with new businesses in areas not directly editorial, but in which the prescription of Vocento's offline and online media is relevant.

The Board of Directors has expressly acknowledged and appreciated today the dedication and generosity with which the President has held his post during these years.

Bergareche has been Managing Director of BBV, Chairman of Metrovacesa, Agroman and Cepsa and Chief Executive Officer and First Vice Chairman of Ferrovial, where he continues. He is Vice President of Alantra Partners and Counselor of Maxam.

Ignacio Ybarra, 53 years old and graduated in Economics and Business Administration from the Commercial University of Deusto, has developed most of his professional career in different responsibilities within BBVA. He was responsible for Global Transaction Services of BBVA and Director of the Financial Institutions Unit, Business Director of Wholesale Banking of America and Director of the Global Customers Unit. He also worked at The Chase Manhattan Bank.

Ignacio Ybarra knows perfectly the situation of the publishing sector and the company, as well as the challenges that Vocento faces. Not surprisingly, in addition to the Group's Board Member and Vice-Chairman, he has been on the boards of several of Vocento's regional newspapers since 1992.