You are here

Repsol introduces new organizational structure after Talisman acquisition

Repsol announces a reorganization following the completion of the Talisman acquisition.
Repsol introduces new organizational structure after Talisman acquisition

Spain’s Repsol is rolling out a new organizational structure following the acquisition of Canadian oil company Talisman Energy, which is placing Repsol as one of the world’s largest private oil companies.

The reorganization is to ensure the company has a relevant presence on every continent, reinforces the business units’ capabilities to increase efficiency and create value under the leadership of CEO Josu Jon Imaz, Repol said.

There will be three top-level committees created under Imaz, which include the corporate executive committee, the exploration and production (E&P) executive committee, and the downstream executive committee (refining, marketing, LPG, trading, and gas and power). Imaz will chair each level.

The new organizational structure’s aims include:

· Aligning the organization with Repsol’s new asset portfolio. This is based on a one-company model that takes into account the different characteristics of the E&P and Downstream businesses.

· Serving Repsol’s enlarged global footprint. The integration of Talisman increases Repsol’s geographical presence, creating the need to align the structure and operation of the corporate functions.

· Embodying Repsol’s vision of a company focused on long-term business sustainability, technological progress and social welfare.

The corporate executive committee will be responsible for company-wide decisions and policies and will include:

  • Chief Executive Officer – Josu Jon Imaz
  • General Counsel - Luis Suarez de Lezo
  • Chief Financial Officer (CFO) – Miguel Martínez
  • Executive Managing Director, Strategy, Sustainability and Technical Secretary 
– Pedro Fernández Frial
  • Executive Managing Director, People and Organization – Cristina Sanz
  • Executive Managing Director, Communication – Begoña Elices
  • Executive Managing Director, E&P – Luis Cabra
  • Executive Managing Director, Downstream – Ma Victoria Zingoni
  • Corporate Director, Legal Affairs – Miguel Klingenberg
  • Corporate Director, Planning, Control and Global Solutions – Antonio Lorenzo

The E&P executive committee will be responsible for high-level decisions in the company’s exploration and production businesses and will include the unit’s Executive Managing Director Luis Cabra, the corporate executive managing directors that report to Imaz, and the executive directors of the geographical segments that Repsol divided its international business activity.

This committee combines the experience of Repsol and Talisman and allows the complementarity and strength of both organizations to materialize.

The committee includes:

  • Executive Director of Exploration – Marcos Mozetic
  • Executive Director, Europe, Middle East and Africa– Paul Warwick
  • Executive Director, Latin America– Evandro Correa
  • Executive Director, US, T&T and RSB – Tomás García Blanco
  • Executive Director, Canada & North America Unconventionals – John Rossall
  • Executive Director, Asia-Pacific – Ferdinando Rigardo
  • Director, Business Development & Technical Analysis–Elvira Álvarez de Buergo
  • Executive Director, Technical Development and HSE – Álvaro Racero
  • Corporate Director, Economic and Fiscal affairs - Luis López Tello
  • Executive Director, Supply Chain – José Luis Bernal
  • Director of Planning and E&P Control – Fernando Ruiz Fernández

The downstream executive committee will be responsible for high-level decisions in the downstream businesses, and will include the members of the corporate executive committee-especially the unit’s Executive Managing Director, Ma Victoria Zingoni as well as the executive directors of the business units that report to the CEO, as well as supporting technical staff.

  • Executive Director, Trading, Gas & Power – Lourdes Rodríguez
  • Executive Director, Refining – Francisco Vázquez
  • Executive Director, Chemicals – Juan Carlos Ruiz Dorado
  • Executive Director, Marketing – Antonio Calçada
  • Director, Lubricants, Asphalts and Specialized Products. – Antonio Portela
  • Executive Director, LPG – Jaime Fernández-Cuesta
  • Executive Director, Repsol Peru – José Manuel Gallego
  • Corporate Director, Economic and Fiscal affairs - Luis López Tello
  • Executive Director, Gas & Power – Victor Peón
  • Executive Director, Optimization and analysis – Manuel Pérez Jurado
  • Director, Downstream Engineering – Modesto Fernández

Repsol completed the US$8.3 billion acquisition of Talisman on 7 May.

According to Talisman, under the arrangement, a wholly owned subsidiary of Repsol acquired all of the outstanding common shares of Talisman at a price of $8.00 per share and all of the outstanding preferred shares of Talisman at a price of $20.74 (representing CDN $20.65 plus accrued and unpaid dividends) per share.

Repsol said the acquisition will transform the company into a bigger group, more balanced in terms of the composition and the geographical location of its assets, and with a better outlook for future development. The Repsol Group will noticeably increase its presence in OECD countries following the acquisition. Production will practically double, with assets on every continent.

In February, Talisman shareholders approved the takeover in an overwhelming vote of more than 99% of holders in favor.

In December 2014, Respol agreed to buy Talisman for $8.3 billion plus debt, amounting to the largest international deal by a Spanish company in five years.

Latest profiles