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Argentina Installs Chief of Cabinet Manuel Adorni as YPF’s Golden Share Director

Adorni will serve ad honorem as the Class A representative with veto authority.

Overview

  • YPF confirmed the appointment after a board meeting that reconfigured seats tied to the state’s special rights under the golden share.
  • The company accepted the resignations of Class D directors Eduardo Rodríguez Chirillo and José Rolandi, citing personal reasons.
  • The Class D oversight body appointed Guillermo Francos and former PRO lawmaker Martín Maquieyra as new Class D directors with mandates until the next shareholders’ assembly.
  • Francos shifted from the veto‑bearing Class A seat to Class D, while YPF reported the updated board to Argentina’s CNV and the New York Stock Exchange for the 51% state‑controlled company.
  • Separately in New York, Argentina and claimants led by Burford Capital held a follow‑up hearing focused on discovery and sovereign‑immunity disputes in the YPF expropriation case.