José Manuel Vargas undertakes the Executive Presidency of MAXAM and reorganizes the Corporate Structure

    •José Fernando Sánchez-Junco, president and leader of the Company’s expansion since 1995, assumes the honorary presidency.

The Board of Directors of MAXAM has unanimously appointed José Manuel Vargas as new Executive President of the Company. José Fernando Sánchez-Junco will become MAXAM’s Honorary Chairman and remain as a member of the board, in a generational shift with shareholders consensus. The changes take place within the authorization process for the majority control of the Company by the Rhône Group.

José Manuel Vargas, together with Miguel Camino, who broadens his functions as General Manager, will have a renewed team: Juan Carlos García Luján as Chief Operating Officer, José María Casas as Chief Commercial Officer, Íñigo Presmanes as Chief Financial Officer, Gemma Sanz as Chief Human Resources Officer and Vicente Huélamo as Chief Technology Officer. The Secretary General, with Carlos Gastañaduy and Internal Audit, with Juan Carlos Vaquero, will continue to report directly to the Presidency. All senior positions in MAXAM's new corporate structure have been filled with internal promotions and changes, boosting the experience, competence and performance of the highly specialized team of professionals.

José Manuel Vargas has been a partner of Rhône Group since the end of 2017, after leaving the presidency of AENA, where he had 5 intense years that included restructuring, privatization and IPO. Previously, he had served as CEO of Vocento and ABC.

José Fernando Sánchez-Junco will hold the honorary presidency after dedicating more than 25 years to the Company and turning it into a world leader in the industry, with an important corporate evolution from the classic Explosivos Rio Tinto, product diversification and international expansion. MAXAM is now beginning a new stage with an eye towards digital transformation, the post-COVID-19 environment and a new role for energy materials in their multiple dimensions and global applications.

MAXAM is a leading global technology company, specializing in the design, development, manufacture and application of energetic materials. The company provides blasting solutions for mining, quarrying and civil works; cartridges and gunpowder for use in hunting and sport shooting; products and systems for the defense and security sector; and production of key raw materials in nitro chemical activity. Founded by Alfred Nobel in 1872, MAXAM currently has more than 5,000 employees on 5 continents, with 80 industrial facilities and commercial operations in more than 50 countries. .



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