Sol Melia Revises Corporate Management Structure

On March 31, 2009, the Sol Meliá Board of Directors approved a modification to the dual leadership of the company defined almost two years ago when the chairman of the company, Gabriel Escarrer Julia, announced the beginning of a process of succession in the hotel company he founded 53 years earlier.

During this period of co-vice chairmanship, Gabriel and Sebastian Escarrer Jaume have led an intense reorganization and strategic reorientation of Sol Meliá, performing both executive and non-executive roles.

This process has led to the development of a new organizational and business model strongly focused on future growth, and also the enhancement of the company’s human capital and brand equity.

According to the co-vice chairmen of Sol Meliá, the leadership model defined in 2007 is now sufficiently mature and prepared to continue its development towards the model desired for the future, a model prepared to immediately face the challenges of the current environment and successfully pursue company strategy. Sol Meliá has thus decided to carry out changes in two areas.

On an internal level, company management in the current economic crisis requires maximum flexibility and precision in decision-making and a clear focus on daily management.

On an external level, the role that Sol Meliá expects to play in the national and international travel industry and the need to enhance its corporate reputation in line with the dimension of the company require a greater presence and influence in all areas and before all of our stakeholders.