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Panama Canal names Ricaurte Vasquez to replace retiring chief Quijano

THE Panama Canal board of directors has appointed Ricaurte Vasquez, lately an executive director at General Electric, as the next Panama Canal Administrator from September 4, when incumbent Jorge Quijano retires after 40 years

Panama Canal names Ricaurte Vasquez to replace retiring chief Quijano

THE Panama Canal board of directors has appointed Ricaurte Vasquez, lately an executive director at General Electric, as the next Panama Canal Administrator from September 4, when incumbent Jorge Quijano retires after 40 years

18 February 2019 - 19:00

THE Panama Canal board of directors has appointed Ricaurte Vasquez, lately an executive director at General Electric, as the next Panama Canal Administrator from September 4, when incumbent Jorge Quijano retires after 40 years.

'After months of planning, the board determined that Mr Vasquez has the expertise needed to lead the waterway through its next era of growth,' said chairman Roberto Roy, who also serves as Minister for Canal Affairs.



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 (2004-2006), served as deputy administrator (2000-2004) and finance director (1996-2000), playing a role in the Panama Canal Expansion Programme.



Recently, he served as General Electric's executive director (2013-2015), vice president, and CEO for Central America and the Caribbean (2008-2011).



He has a PhD in managerial economics and a master's in operations research and statistics from Rensselaer Polytechnic Institute. He also has a master's in economics from North Carolina State University.



Mr Vasquez will soon begin a transition period under the guidance of Mr Quijano over the next few months..



Said Mr Quijano: 'We are committed to ensuring that Mr Vasquez acquires the knowledge and expertise required.'



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 board also announced that Ilya Espino de Marotta would be the next deputy administrator of the Panama Canal. Mrs Espino de Marotta will take office in January 2020, when the incumbent Manuel Benitez retires.



Mrs Espino de Marotta began her career in the waterway in 1985. She has a degree in marine engineering from Texas A&M University and a master's in economic engineering from the Universidad Santa Mar?a La Antigua in Panama City.-------------------http://www.pancanal.com/eng/


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