Ricaurte Vásquez appointed next Canal administrator

The Board of Directors of the Panama Canal Authority (ACP) appointed Ricaurte Vásquez as the new administrator of the waterway, starting from September 4, in replacement of engineer Jorge Luis Quijano, who will complete his term of seven years established in the law.

Ricaurte Vásquez

Ricaurte Vásquez

Ricaurte Vásquez has more than 30 years of experience in financial management, international capital markets, financial consulting and in the public sector. He was minister for Canal Affairs and president of the Board of Directors (2004 – 2006), sub-administrator (2000 – 2004) and financial director (1996 – 2000) of the waterway. Recently, he held high positions in General Electric for Central America and the Caribbean (2008 – 2011).

“The Board of Directors developed a professional methodology to define the profile of the next administrator based on the current and future challenges of the interoceanic route, establishing critical priorities for the next seven years of Canal management,” said the Chairman of the Board and Minister for Canal Affairs, Roberto Roy.

A transition period has begun so that the designated administrator is incorporated into the life of the Canal, its institutional and labor regime, its budget and establishing relationships with the clients of the waterway to assure them that this process will be imperceptible, while offering uninterrupted, reliable and safe service.

Ilya Espino de Marotta

Ilya Espino de Marotta.
(foto cortesía de mujer.com.pa)

Designation of Deputy Administrator

The Board, also in compliance with the Constitution and the Organic Law, decided at its extraordinary meeting to appoint the engineer Ilya Espino de Marotta as the next sub-administrator of the Canal.

Espino de Marotta will assume the position starting next January when the current sub-administrator, Manuel Benítez, will complete his career of more than 40 years in the Panama Canal.

The appointed assistant administrator, who has completed a career of more than 30 years in this company, successfully led the Canal expansion program.

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