The Board of Directors of CaixaBank proposes a new Management Committee

• The proposal will be submitted for approval to the new Board of Directors to be established after the merger with Bankia.
• José Ignacio Goirigolzarri will be Executive Chairman of the company, once he has been appointed by the new Board of Directors.
• The current CEO, Gonzalo Gortázar, will remain as the top executive and will also chair the Management Committee.

At a meeting today, the Board of Directors of CaixaBank has proposed a new Management Committee structure, in the context of the impending merger with Bankia. This proposal will be submitted for approval to the new Board of Directors to be established once the merger with Bankia takes place, after all the regulatory and administrative approvals have been obtained.

The new Management Committee is to be be headed by Gonzalo Gortázar, the current CEO, and will be made up of:

• Juan Alcaraz, Head of Retail, Business and Private Banking
• Xavier Coll, Chief Human Resources Officer (he will leave his position on 1 January, 2022, on which date David López will take up the post)
• Jordi Mondéjar, Chief Risk Officer
• Iñaki Badiola, Head of CIB and International Banking
• Luis Javier Blas, Chief Operating Officer
• Matthias Bulach, Head of Financial Accounting, Control and Capital
• Manuel Galarza, Head of Control and Compliance
• Mª Luisa Martínez, Head of Communications and Institutional Relations
• Javier Pano, Chief Financial Officer
• Marisa Retamosa, Head of Internal Audit
• Eugenio Solla, Chief Sustainability Officer
• Javier Valle, Head of Insurance
• Óscar Calderón, Board Secretary and General Council

As set out in the draft terms of the merger, the entity resulting from the merger will be chaired by José Ignacio Goirigolzarri, the current Chairman of Bankia, once he has been appointed by the new Board of Directors of CaixaBank. The Head of Communications and Institutional Relations, the Head of Audit, and the Board Secretary will report to Goirigolzarri.

The current CEO, Gonzalo Gortázar, will be CaixaBank's top executive, reporting directly to the Board of Directors, as well as chairing the Management Committee.

José Ignacio Goirigolzarri has expressed his wish for "the merger to take place as soon as possible, and for the new team to start working together on a project that will create the largest financial institution in Spain".

Gonzalo Gortázar further emphasised that “this new team is the one the company needs to address the major challenges that the sector is expected to face in coming years".

The merger is expected to close during the first quarter of 2021 —once all the relevant regulatory approvals have been received— whereas the process of operational integration between both banks is expected to take place before the end of 2021.

The joint merger plan was approved by an ample majority in the Extraordinary General Meetings of CaixaBank and Bankia that took place at the beginning of December 2020.

The General Meetings of CaixaBank and Bankia approved all the points in the agenda with more than 99% support.