Santander cancels Orcel's CEO appointment by dispute over price

Eugenia Jiménez
Santander cancels Orcel's CEO appointment by dispute over price

Spanish bank Santander announced on Tuesday it was cancelling Andrea's Orcel September appointment after finding out how much money it would cost them to name him chief executive officer. The bank said it would be unacceptable to pay him the amount of money it would have cost to make him chief executive, which according to people familiar with the matter could be above €50m. According to the bank, the appointment was announced last September given Orcel's seniority, along with regulator...

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