Abengoa Yield's board of directors unanimously approved the appointment of Javier Garoz as the new CEO with immediate effect.

Javier Garoz was until now CEO of Abengoa Bioenergy. He has been Strategy and Corporate Development Director of Abengoa (2012-13) and served as a Chief Operating & Corporate Development Officer of Telvent (2006-12).

Javier has a bachelor's degree in Marketing and Business Administration from ESIC and an MBA from the IESE Business School in Spain.

The board of directors has also accepted the resignation as CEO of Santiago Seage due to his appointment as CEO of Abengoa, at the board meeting held on May 18, 2015.

In addition, the board has accepted the resignation of Manuel Sanchez as Chairman of the Company, and has appointed Santiago Seage for that position. Manuel Sanchez will continue as a director in Abengoa Yield.

Santiago Seage and Javier Garoz will meet with investors in London, Boston and New York during the course of this week and will be working together during the transition period.