News

2019 February 18 09:07

Panama Canal Board of Directors appoints new Canal Administrator and Deputy Administrator

The Panama Canal Board of Directors announced the appointment of Mr. Ricaurte Vasquez as the next Panama Canal Administrator. Mr. Vasquez will take office on September 4, 2019, succeeding current Administrator Jorge L. Quijano, who concludes his seven-year term at the helm of the waterway, the company said in its release.

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

Mr. 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 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).

Mr. Vasquez will become the fourth Panamanian Administrator of the waterway shortly before it celebrates its 20th year under Panamanian administration on December 31, 2019. Past Panamanian Administrators include Jorge Quijano (2012-2019), Alberto Aleman Zubieta (1996-2012) and Gilberto Guardia (1990-96), who was the Administrator of the Panama Canal Commission, the U.S. federal agency that operated the Canal until 1999.

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

About the Panama Canal Authority (ACP)
The Panama Canal Authority (ACP) is an autonomous legal entity of the Republic of Panama in charge of the operation, administration, management, preservation, maintenance, and modernization of the Panama Canal, as well as its activities and related services.