The Panama Canal board of directors has appointed Ricaurte Vasquez as the next canal administrator, replacing Jorge Quijano on September 4, 2019.
In an effort to deliver a smooth succession, Vasquez will soon begin a transition period under the guidance of Quijano, who will be retiring after more than 40 years in the waterway, including seven years at the helm.
Over the next few months, Vasquez will join key upcoming conversations with stakeholders and observe day-to-day activities to adapt to his new role.
Quijano stated: “We are committed to ensuring that Vasquez acquires the knowledge and expertise required for a smooth transition.
“As was the case during past transition periods, we can assure the maritime community that the waterway will continue to offer uninterrupted, reliable and safe service to its customers.”
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 the Panama Canal board of directors (2004-2006), deputy administrator (2000-2004) and finance director (1996-2000) for the waterway, playing a role in laying the groundwork for 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).
The Panama Canal board of directors also announced the appointment of Ilya Espino de Marotta as the next deputy administrator of the Panama Canal.
She will take office in January 2020, when the current deputy administrator Manuel Benitez retires after more than 40 years with the Panama Canal.