April 5, 2018 / 9:35 PM / 6 months ago

Argentina's YPF names ex-CFO Daniel Gonzalez as new CEO

BUENOS AIRES (Reuters) - Argentina’s state-owned oil company YPF SA has named former chief financial officer (CFO) Daniel Gonzalez as its new chief executive, the company said in a statement on Thursday.

FILE PHOTO: Chief Financial Officer Daniel Gonzalez of Argentina's state-run petroleum company YPF SA poses for a portrait in the Manhattan borough of New York City, U.S., October 25, 2017. REUTERS/Carlo Allegri

A six-member executive committee had run the company since its previous CEO, Ricardo Darre, resigned last August. Gonzalez, who served as CFO for six years, formed part of that committee.

YPF revamped its leadership in early 2016 to adapt to a new political climate after business-friendly President Mauricio Macri took office in Argentina following more than a decade of populist rule. It controls large swathes of the Vaca Muerta shale play, one of the world’s largest unconventional resources.

Gonzalez played a key role in negotiating joint ventures in Vaca Muerta with oil companies including Shell and Schlumberger, and was also involved in the recent sale of a 25-percent stake in the company’s electricity subsidiary to GE, the company said.

Following Gonzalez’s promotion, his current role will be split in two, with Luis Sas assuming responsibility for the company’s finances and Diego Pando in charge of internal management control.

Reporting by Luc Cohen; Editing by Alistair Bell

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