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The Panama Canal Board of Directors has named their next Panama Canal Administrator

The Panama Canal Board of Directors has named their next Panama Canal Administrator

February 15, 2019

The Panama Canal Board of Directors announced today the selection of Dr. Ricaurte Vasquez Morales as the next Panama Canal Administrator. Dr. Vasquez will take office on September 4, 2019, succeeding current Administrator Jorge L. Quijano, who has been at the helm of the waterway since 2012.

The decision was made by the Board of Directors in accordance to an independent, transparent and rigorous selection process mandated by the Constitution of the Republic of Panama and the Panama Canal Authority Organic Law.

As part of the Panama Canal Authority’s autonomous institutional process, the Board of Directors developed its evaluation criteria based on the analysis of the Panama Canal’s vision, mission, values, strategic objectives and challenges for the coming years. After months of undergoing this strategic planning process, the Board of Directors determined that doctor Vasquez has the expertise required to lead the waterway through its upcoming era of growth.

Dr. Vasquez has more than 30 years of experience in financial and international capital market management and in the public sector. He served as Minister for Canal Affairs and Chairman of the Panama Canal Board of Directors (2004-2006), Deputy Administrator (2000-2004) and Finance Director (1996-2000) for the waterway, playing a role in laying the groundwork for the Panama Canal Expansion Program. Recently, he served as General Electric’s Executive Director (2013-2015), Vice President and CEO for Central America and the Caribbean (2008-2011).

He has a PhD in Managerial Economics, a Master’s Degree in Operations Research and Statistics from Rensselaer Polytechnic Institute, and a Master’s Degree in Economics from North Carolina State University.

The Panama Canal Board of Directors, also in compliance with the Constitution and the Organic Law, announced the appointment of Mrs. llya Espino de Marotta as the next Deputy Administrator of the Panama Canal. Mrs.

Marotta will take office in January 2020, when the current Deputy Administrator Manuel Benitez retires after more than 40 years with the Panama Canal. Mr. Benitez will also closely accompany Administrator Quijano in the transition process.

To guarantee a seamless succession, Dr. Vasquez will soon begin a transition process with Administrator Quijano, who will be retiring after more than 40 years in the Panama Canal. Over the next few months,

Dr. Vasquez will be meeting with key stakeholders and will participate in day-to-day activities to become familiar with his new role.

AUTORIDAD DEL CANAL DE PANAMA

Balboa Ancon Panama, Repub/ica de Panama • www pancanalcom