The Group's organizational structure was changed in May 2015. This structure is divided into: Execution & Performance, New Core Competencies, Business Development, Risk & Finance and Strategy & Control. The first four functions lie within the responsibility of the CEO and the last one within the responsibility of the Group Executive Chairman.
The main purpose of this new structure is to strengthen the results of the franchises through a function with full dedication over the management of networks and operations across all geographies. To meet that goal, the new model includes the following Execution & Performance areas:
On the other hand, the structure seeks to build critical competencies and add global talent to build a sustainable competitive advantage in the new landscape. To fulfill these goals, the structure includes the following New Core Competencies:
The Business Development teams (Spain, The United States and growth markets) are responsible for the transformation of the business model and deploying the global solutions adapted to the local needs.
Risk & Finance comprises relevant issues such as the management of global risks, balance sheet and Group solvency. It is divided into:
The Strategy & Control areas, under the responsibility of the Group Executive Chairman, establish the Group's strategy and define the framework and corporate and control model around relevant issues such as compliance, communications, internal audit or accounting, among others. It is structured as follows:
(1) Others includes Paraguay, Uruguay and Switzerland.
(2) Growth markets include Mexico, Argentina, Colombia, Chile, Peru, Venezuela and Turkey.