Repsol : J. Robinson West, Repsol’s New Independent Board Member

The Repsol Board of Directors, which met today in Houston (USA), agreed, at the proposal of the Nomination and Compensation Committee, the appointment of J.Robinson West as independent director of the company. Following his appointment, the Board has also agreed to appoint him as a member of the Delegate Committee.

J. Robinson West is an internationally recognized expert with extensive experience in oil and gas. He is currently a Senior Adviser to the Energy & National Security Program at the Center for Strategic & International Studies (CSIS) in Washington DC. He founded the international consultancy group PFC Energy, and he has held several positions of responsibility in the White House staff in several administrations. 

The Repsol Board of Directors also approved today the appointment of market and finance expert Mario Fernández Pelaz, an independent director of the Board, as amember of the Audit and Control Committee. .

The Board of Directors has also agreed to suspend the execution of the share capital reduction approved at the General Shareholders´ Meeting of the Company on March 28, 2014, considering that the acquisition of Talisman Energy Inc. and the consumption of liquidity that it entails is a supervening circumstance that could not therefore be taken into account at the time the resolution was approved by the Shareholders´ Meeting and which make it advisable to rescind it.

This must be confirmed at the next Annual Shareholders´ Meeting. The intention of the Board is to submit for the Shareholders´ Meeting consideration the annulment of the capital reduction resolution with the provision that, if shareholders chose to uphold it, the Company would proceed immediately to its implementation.

With these agreements, the composition of the Board of Directors of Repsol and its Committees is as follows:

Delegate Committee:

Mr. Antonio Brufau Niubó (Chairman)

Mr. Isidro Fainé Casas

Mr. Manuel Manrique Cecilia

Mr. Josu Jon Imaz San Miguel

Mr. Artur Carulla Font

Mr. Rene Dahan

Mr. Henri Philippe Reichstul

Mr. Luis Suárez de Lezo Mantilla

Mr. J. Robinson West

Audit and Control Committee:

Mr. Javier Echenique Landiríbar (Chairman)

Mr. Luis Carlos Croissier Batista

Mr. Ángel Durández Adeva

Mr. Mario Fernández Pelaz

Nomination and Compensation Committee:

Mr. Artur Carulla Font (Chairman)

Mr. Mario Fernández Pelaz

Ms. María Isabel Gabarró Miquel

Mr. José Manuel Loureda Mantiñán

Mr. Juan María Nin Génova

Strategic, Investment and Corporate Social Responsibility Committee:

Mr. Juan María Nin Génova (Chairman)

Mr. Luis Carlos Croissier Batista

Mr. Javier Echenique Landiríbar

Ms. María Isabel Gabarró Miquel

Mr. José Manuel Loureda Mantiñán

Law Graduate by the University of Deusto in 1965, he has been Professor of Business Law at the University of Deusto and of several Master's courses of the Deusto Business School.

Mario Fernández Pelaz is a well-known businessman and finance professional. He was Executive Chairman of Kutxabank until last year, after achieving the best scores amongst Spanish banks in stress tests. He has also been Vice-Chairman of CECA (Spanish Confederation of Savings Banks).

He has held a number of positions of public responsibility throughout his long professional career, as regional Employment Minister and Vice President of the Basque Government.

The author of several publications about commercial and financial issues, Fernandez has been a member of the Board of Directors of Repsol since 2011.