Cepsa redesigns its organizational structure to accelerate its energy transition

Monday, January 17, 2022

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Talent

Energy Transition

Global

• Carlos Barrasa, formerly Executive Chairman of BP Spain, joins the company as Director of the new Commercial & Clean Energies business
• The Management Committee has now been strengthened with the incorporation of three new executives with extensive international experience: Carmen de Pablo (CFO), Savvas Manousos (Trading), and Carlos Barrasa
• Cepsa CEO, Maarten Wetselaar, stressed that "I am very pleased to welcome talented leaders like Carlos, Carmen and Savvas to Cepsa. They join a new organizational structure that puts the customer at the heart of our decarbonization drive and accelerates our journey to become a leading company in low-carbon energy and sustainable mobility businesses"

Cepsa has redesigned its Management Committee, which has been expanded from 10 to 12 members following the incorporation of Carlos Barrasa, Director of the new Commercial & Clean Energies division; Savvas Manousos, Director of Trading; and Carmen de Pablo, new CFO to replace Salvador Bonacasa, who has retired after four decades with the company. All are executives with extensive experience in the energy sector and internationally.

Maarten Wetselaar, CEO of Cepsa since January 1 of this year, has reorganized the company's structure by defining two new energy customer-facing business areas, "Mobility & New Commerce" and "Commercial & Clean Energies". The refining business becomes the "Energy Parks" business, alongside the existing areas of Exploration & Production, Chemicals, and Trading. With this new structure, the company accelerates its transformation to become an Energy Transition Leader that sets the pace for change and helps its customers decarbonize their energy footprint.

The Mobility & New Commerce division will manage the transformation of Cepsa's mobility business, building leadership in electric mobility and developing digitally enabled New Commerce solutions that leverage its network of customers and stations.

The Commercial & Clean Energies division will serve B2B business management in segments such as Industry, Agriculture, Aviation, Lubricants, Asphalt, Gas, and Electricity and develop decarbonization solutions for its customers by building biofuels, hydrogen, and renewables (solar and wind) businesses value chains.

"I am very pleased to welcome talented leaders like Carlos, Carmen and Savvas to Cepsa. They join a new organizational structure that puts the customer at the heart of our decarbonization drive and accelerates our journey to become a leading company of low-carbon energy and sustainable mobility businesses", Maarten Wetselaar said.

The composition of Cepsa's new Management Committee is as follows:

• Pierre-Yves Sachet, Director of Mobility & Commerce.
• Carlos Barrasa, Director of Commercial & Clean Energies.
• Alex Archila, Director of Exploration and Production.
• Antonio Joyanes, Director of Energy Parks.
• Paloma Alonso, Director of Chemicals.
• Savvas Manousos, Director of Trading.
• Carmen de Pablo, Director of Financial, Economic, and General Services.
• Carlos Morán, Director of Human Resources.
• Jörg Häring, Director of Legal Counsel.
• Jose Manuel Martinez, Director of Technology, Projects, and Services.
• Matteo Vaglio, Director of the Transformation Office.

In turn, the Communication and Institutional Relations Department, headed by Juan Llobell, and the Cepsa Foundation, whose Vice-President is Íñigo Díaz de Espada, will report directly to the CEO.

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