Cepsa appoints new Ballenoil CEO and restructures board

Manuel Sáez will replace founder David José Querejeta as the company's top authority.

Following the acquisition of Ballenoil by Cepsa, the Spanish energy giant has decided to restructure the board of the "low-cost" brand and appoint a new authority. 

Co-founders David José Querejeta, former CEO of the company, and Juan Sanz will join the executive board. Additionally, Manuel Sáez was named as the new CEO after serving as Head of Strategy, M&A, and Transformation - Mobility & Retail. 

According to El Economista, three Cepsa representatives will join the subsidiary's board and will maintain their roles at the parent company. 

These include Pierre-Yves Sachet, Executive Vice President of Mobility & New Commerce at Cepsa; Jesús Herrero, in charge of Pricing, Analysis, and Planning at Cepsa; and Marta López, Legal Mobility and New Commerce at Cepsa. 

The company's goal is to enter the "low-cost" market through Ballenoil's 263 service stations without rebranding. Meanwhile, the company’s retail brand, which currently has more than 1,500 locations, will focus on the premium segment. 

Cepsa aims to expand the acquired chain's network to 500 outlets by 2027 and to turn it into a benchmark for sustainability.