José Sevilla resigns as Unicaja chair and declines to remain at the bank

José Sevilla, the current chairman of Unicaja, has announced his intention to step down from his position at the end of his term without seeking re-election. This decision, which will be formalised at the bank's upcoming shareholder meeting, marks a significant change in leadership for the Málaga-based listed bank.

Sevilla assumed the role of chairman on April 5, 2024, with the primary objective of restoring stability within the institution and moving forward from the tumultuous governance crisis that arose from the merger with Liberbank. Over the course of two years, he has focused on maintaining institutional stability.

In a statement filed with the Spanish National Securities Market Commission (CNMV), Unicaja outlined the handover in accordance with its Succession Policy. Until the shareholders' meeting takes place, Sevilla will continue to fulfill all his non-executive duties as the head of the bank. The bank's board of directors has acknowledged and expressed gratitude for Sevilla's valuable services during his tenure.

The announcement of Sevilla's departure paves the way for a smooth transition at the helm of the bank. By completing his current term early, the process of selecting a new chairman can be initiated with sufficient notice and institutional safeguards in place. Sevilla's background as the former chief executive officer of Bankia adds a layer of experience to the management reshuffle that followed the departure of Manuel Azuaga.

His appointment as an independent director has contributed to stabilising the command structure alongside Unicaja's chief executive, Isidro Rubiales.