Press release

Musabbeh Al Kaabi, new Cepsa Chairman

20 Nov 2018

On November 13, Cepsa’s shareholder, Mubadala, accepted the resignations of board members H.E. Suhail Al Mazrouei, Abdul Munim Al Kindy and Abdulla Al Dhaheri from their respective positions on the Company’s Board and Company Committees.

At the same time, the Sole Shareholder named Saeed Al Mazrouei, Ahmed Saeed Al Calily and Bakheet Al Katheeri, as new board members for a statutory period of four years. The three new board members, all top executives of the Mubadala group, have distinguished backgrounds and broad experience and knowledge of the energy sector.

Likewise, the Sole Shareholder, also took the decision to reelect board members Musabbeh Al Kaabi, Alyazia Al Kuwaiti, and Ángel Corcóstegui for a period of four years, while Pedro Miró continues in his position as board member, Vice-Chairman and CEO. The Sole Shareholder also fixed the number of board members at seven.

Following these changes, the Board agreed to accept the resignation of H.E. Suhail Al Mazrouei as Chairman, and named Musabbeh Al Kaabi as new Chairman.

The Board thanked Suhail Al Mazrouei for his outstanding work and contribution in helping Cepsa meet its company objectives since his appointment in June 2015, as well as the work carried out by Abdula Munim Al Kindy and Abdulla Al Dhaheri.

The Board also decided to appoint Saeed Al Mazrouei as new Audit, Compliance and Ethics Committee member replacing Abdul Munim Al Kindy, and Ahmed Al Calily as new Nomination and Compensation Board Committee member replacing Abdulla Al Dhaheri.

Following these changes, the company’s Board and Committee structure is now as such:

Board

• Musabbeh Al Kaabi - Chairman
• Pedro Miró Roig – Vice-Chairman and CEO
• Alyazia Al Kuwaiti – Member
• Ángel Corcóstegui Guraya - Member
• Ahmed Saeed Al Calily - Member
• Saeed Al Mazrouei - Member
• Bakheet Al Katheeri - Member
• Ignacio Pinilla Rodríguez – Secretary non-board member
• José Aurelio Téllez Menchén - Vice-secretary non-board member


Audit, Compliance and Ethics Committee

• Ángel Corcóstegui Guraya – Chairman
• Alyazia Al Kuwaiti – Member
• Saeed Al Mazrouei – Member
• Ignacio Pinilla Rodríguez – Secretary
• José Aurelio Téllez Menchén – Vice-secretary

Appointments and Remuneration Committee

• Musabbeh Al Kaabi – Chairman
• Alyazia Al Kuwaiti – Member
• Ahmed Al Calily – Member
• Carlos Morán Moya - Secretary

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