Overview
- Manuel Adorni sent a resignation letter to YPF president Horacio Marín that was reported Wednesday, formally notifying the company he is leaving the Director Titular Clase A post.
- YPF’s board must still vote to accept and publish the removal for the resignation to take legal effect under the company’s rules.
- Government sources say Diego Santilli, who was sworn in as chief of cabinet this week, is expected to replace Adorni as the holder of the State’s Class A shares and the so‑called acción de oro veto rights.
- A federal probe led by prosecutor Gerardo Pollicita into alleged illicit enrichment connected to Adorni remains active and examines asset movements, purchases with public‑employee cards and real‑estate operations.
- The Class A seat represents the State’s controlling influence in YPF, a company in which the government holds about 51% of shares, and the resignation resumes political debate over director pay after reporting showed typical YPF director remuneration at roughly US$954,000 annually while Adorni served ad honorem and did not collect it.