The board of SM SAAM appointed Oscar Hasbún Martínez as its new president, replacing Felipe Joannon Vergara, who served as chief executive from 2014 to date. Also, Jean-Paul Luksic Fontbona will maintain the vice-presidency of the directory. Hasbún, a board member of SM SAAM since April 2015, is a commercial engineer at the Catholic University of Chile and has been linked to the Luksic Group since 2002, when he was in charge of investments in Croatia. In 2011 he took over the general management of CSAV, where he led the transformation and restructuring of the shipping company and the subsequent merger with Hapag-Lloyd. He currently holds the position at CSAV, a company that currently operates in vehicle transportation and logistic business, and is a board member of Hapag Lloyd.