- As has been long-expected, Ana Botin is appointed to replace her father as board chairman at Santander (SAN -0.6%).
- Though no surprise, the move could face some criticism given the questioning of European banking dynasties amid the scandal at Portugal's Banco Espirito Santo. "Succession shouldn't just be saying 'my daughter's going to take over," says a corporate governance expert.
- On the other hand, says a fund manager, continuity could be an asset: "The key issue is whether or not family control is a good or a bad thing. Ultimately this depends on individuals and [Botin's] daughter is a chip off the old block."
- Previously: Santander shares down after chairman dies