Latam Airlines Group

Governance

Board of Directors

The current Board of Directors was elected in the Ordinary Shareholders Meeting held on April 27, 2017, in accordance with the Company’s By-Laws, and will hold office for a period of two years.

Mr. Ignacio Cueto Plaza, joined LATAM’s board of directors in April 2017. His career in the airline industry extends over 30 years. In 1985, Mr. Cueto assumed the position of Vice President of Sales at Fast Air Carrier, the biggest national cargo company of that time. In 1985, Mr. Cueto assumed as Service Manager and Commercial Manager for the Miami sales office. Mr. Cueto later served on the board of directors of Ladeco (from 1994 to 1997) and LAN (from 1995 to 1997). Mr. Cueto served as President of LAN Cargo from 1995 to 1998, as Chief Executive Officer-Passenger Business from 1999 to 2005, and as President and Chief Operating Officer of LAN since 2005 until the combination with TAM in 2012. Mr. Cueto later served as LAN’s CEO until April 2017. Mr. Cueto also led the establishment of the different affiliates that the Company has in South America, as well as the implementation of key alliances with other airlines.
Mr. Henri Philippe Reichstul joined LATAM´s board of directors in April 2014 and was reelected to the board of directors of LATAM in April 2015. Mr. Reichstul has served as President of Petrobras and the IPEA-Institute for Economic and Social Planning and Executive Vice President of Banco Inter American Express S.A. Currently, in addition to Administrative Board member of TAM and LATAM group, he is also a member of the Board of Directors of Repsol YPF, Peugeot Citroen and SEMCO Partners, among others. Mr. Reichstul is an economist with an undergraduate degree from the Faculty of Economics and Administration, University of São Paulo, and postgraduate work degrees in the same discipline - Hertford College - Oxford University.
Mr. Juan José Cueto Plaza has served on LAN’s board of directors since 1994 and was reelected to the board of directors of LATAM in April 2015. Mr. Cueto is the Vice President Executive of investment Costa Verde S.A., position he has held since 1990, and also serves on the boards of Consorcio logger S.A., Inversiones del Buen Retiro S.A., Costa Verde Aeronáutica S.A., synergy real estate S.A., Valle Escondido S.A., Foundation Colunga and Universidad San Sebastián.
Mr. Georges de Bourguignon, has served on LATAM Airlines Group’s board of directors since September 2012 and was reelected in April 2017. He is co-founder of Asset Chile S.A., a Chilean investment bank, where he was voted for chairman in January 2018. Currently, he also has a board seat in K+S Chile S.A.; Embotelladora Andina S.A.; and Asset AGF, as chairman. In the past, he has participated in various directories at public and private companies, and non-profit organizations as well. Between 1990 and 1993 he worked as Manager of Financial Institutions at Citibank N.A. in Chile and as a Professor of Economics at the Pontifical Catholic University of Chile. Mr. de Bourguignon is an economist from this University and has an MBA from the Harvard Business School.
Mr. Carlos Heller Solar, entrepreneur, joined the board of LAN in May 2010 and was re-elected to the Board of Directors of LATAM in April 2015. Mr Heller has extensive experience in the sectors of retail, communications, transport and agriculture. He is President of Grupo Bethia, who in turn owns Axxion S.A. and Betlán two S.A., companies with significant a share in LATAM Airlines. In turn presides over the directories of network television Megavision S.A., Club Hipico de Santiago, Falabella Retail S.A., Sotraser S.A., Viña Indómita S.A., Viña Santa Alicia S.A., Blue Express S.A. and Aero Andina S.A. In addition, it is the majority shareholder and President of Azul Azul S.A. dealership of the Corporation of professional football from the University of Chile.
Mr. Agutter is the owner and Chief Executive Officer of Southern Sky Ltd, an airline consultant company specializing in airline strategy, fleet planning, aircraft acquisition and aircraft financing. Mr. Agutter has had vast experience in advising airlines, including Qatar Airways, on significant Merger and Acquisition projects within the airline industry. Mr Agutter has a degree in Aerospace Engineering from Manchester University and he currently resides in England.
Mr. Eduardo Novoa Castellón joined LATAM’s board of directors in April 2017. In addition, Mr. Novoa serves on the board of directors of Grupo Ecomac, Cementos Bio-Bio, STARS y ESSAL. He was also a member of the board of directors of Esval (2007-2009), Soquimich (2008-2013), Grupo Drillco (2008-2014), Techpack (2014-2017) and several Start-Ups. He was professor of Finance and Economics at Universidad de Chile, Universidad Gabriela Mistral, Universidad del Desarrollo, Universidad Diego Portales and ANEPE, professor of the Master in Finance at Universidad de Chile and Research Assistant at the Center for Public Studies. Mr. Novoa is bachelor of business and administration at Universidad de Chile and has a Master in Business Administration from the University of Chicago.
Mr. Nicolás Eduardo Eblen Hirmas, joined LATAM’s board of directors in April 2017. Mr. Eblen currently serves as CEO of Inversiones Andes SpA, a position he has held since 2010. In addition, he serves on the board of directors of Granja Marina Tornagaleones S.A., Río Dulce S.A., Patagonia SeaFarms Inc., and Sociedad Agrícola La Cascada Ltda. Mr. Eblen holds a Bachelor’s degree in Industrial Engineering, major in Computer Science from Pontificia Universidad Católica de Chile and a Master in Business Administration from Harvard Business School.

Sonia J.S. Villalobos joined the Board of LATAM Airlines in August 2018. Mrs. Sonia is a Brazilian citizen and a regular member of the Boards of Petrobras and Telefónica Vivo, both in her country.

She is a founding partner of the company Villalobos Consultoria since 2009 and a professor of post-graduate courses in finance at Insper since 2016. Between 2005 and 2009, she was the Manager of Funds in Latin America, in Chile, managing mutual and institutional funds of Larrain Vial AGF. From 1996 to 2002, she was responsible for Private Equity investments in Brazil, Argentina and Chile for Bassini, Playfair & Associates, LLC. As of 1989 she was Head of Research of Banco Garantia. She graduated in Public Administration from EAESP / FGV in 1984 and was Master in Finance from the same institution in 2004. She was the first person to receive the CFA certification in Latin America, in 1994.

As a volunteer, she participates in the Board of the CFA Society Brazil, a non-profit association that brings together nearly 1,000 professionals who hold the CFA (Chartered Financial Analyst) certification in Brazil.