The Panama Canal Board of Directors has selected Mr. Ricaurte Vasquez as the next Panama Canal Administrator.
Vasquez is scheduled to take office on September 4, 2019, succeeding the current Administrator Jorge L. Quijano, who concludes his seven-year term at the helm of the waterway.
The decision was made by the Board of Directors in accordance to an independent, transparent and rigorous process mandated by the Panamanian Constitution and Organic Law of the Panama Canal Authority.
“As part of the Panama Canal Authority’s autonomous institutional process, the Board of Directors developed its evaluation criteria based upon an analysis of the Panama Canal’s vision, mission, values, strategic objectives and challenges for the coming years,” said Roberto Roy, Chairman of Board of Directors and Minister for Canal Affairs.
“After months of undergoing this strategic planning process, the Board of Directors determined that Mr. Vasquez has the expertise needed to lead the waterway through its next era of growth.”
To guarantee a smooth succession, Vasquez will soon begin a transition period under the guidance of Administrator Quijano, who will be retiring after more than 40 years in the waterway.
Vasquez, who has more than 30 years of experience in financial and international capital market management and in the public sector, will become the fourth Panamanian Administrator of the waterway shortly before it celebrates its 20th year under Panamanian administration on December 31, 2019.
The Panama Canal Board of Directors also appointed Mrs. 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.