Chief of Staff Manuel Adorni assumed on Friday as YPF's titular director representing the State, forgoing the corresponding fees. He replaces Guillermo Francos, who remains in another directorial role without additional pay. The appointment includes the Golden Share, enabling state veto on strategic decisions.
The national government officially appointed Manuel Adorni as the new Class A titular director of YPF, replacing Guillermo Francos. The incorporation was made on behalf of the State, the majority shareholder with 51% of the shares, and Adorni renounced receiving fees for this role, limiting himself to his public servant salary.
The signing took place this morning in YPF's offices in Puerto Madero, Buenos Aires, and is part of changes to the company's Board of Directors, chaired by Horacio Marín. Adorni acquires the Golden Share, a special right that gives the State veto power over key strategic decisions, such as investments and company direction.
Guillermo Francos will retain a directorial position replacing José Rolandi and also without fees, according to official clarifications. Simultaneously, former legislator Martín Maquieyra assumed the role, fulfilling a political agreement with the La Libertad Avanza (LLA) party. These changes follow the resignations of Rolandi and Eduardo Rodríguez Chirillo for personal reasons, completing the process with acceptance of resignations and formal communication to the Board.
The current composition of titular directors includes: Class A with Golden Share (State): Manuel Adorni; Class D (private sector and minorities): Guillermo Francos, Lisandro Catalán, Martín Maquieyra, Eduardo Alberto Ottino, Guillermo Gustavo Koenig, Emiliano José Mongilardi, César Rodolfo Biffi, Andrea Mariana Confini, and Gerardo Damián Canseco. Alternates are Santiago Martínez Tanoira, Silvia Noemí Ayala, Mauricio Martín, María Martina Azcurra, Carla Antonela Matarese, Pamela Fernanda Verasay, and Julio Alejandro Schiantarelli.
YPF officials stated that the authority update will be reflected in the coming days in official records and the New York Stock Exchange. This appointment strengthens state control over national energy planning and oversight of key projects, maintaining a scheme without additional remuneration for directorial positions.
