The Unicaja Foundation’s Leadership Review: Report, Timelines, and the Path to Succession
The governing board of the Unicaja Foundation convened in an extraordinary session on a Thursday to consider Baker McKenzie’s request. The firm, invited after the foundation sought expert guidance, has been asked to prepare a report that will determine whether Braulio Medel continues to meet the requirements for the presidency. Industry insiders noted that four percent of the participating employers urged postponement, with seven votes opposing the delay. Pending approval from the Conservation Board, the timeline could extend the report deadline to 24 June, pushing beyond the original 24 May limit.
Two additional firms were brought in to participate in the assessment, following a prior process that narrowed the field. Last week the Chicago-based law firm Baker McKenzie was selected for this assignment after Deloitte and Uría Menéndez were initially considered but did not proceed. Baker McKenzie accepted the assignment but indicated a need for more time to conduct a thorough study, extending the window beyond the March deadline set by the Undersecretariat for Foundations, which operates under the Ministry of Economic Affairs.
The deliberations carried palpable tension, with several votes against extending the review period due to concerns about stability and leadership continuity. Some employers criticized Medel, arguing that the foundation should not delay the president’s resignation announced during the process. In Medel’s own letter, he stated that regardless of the report’s findings, his departure would become official by May 24 at the latest. However, sources close to the extension noted that Medel might remain in office during the extended period pending a final decision.
The Board of Trustees met on Thursday after Medel revealed the previous Wednesday his intention to nominate José Manuel Domínguez as his successor. Medel and colleagues indicated that the foundation would soon present two proposals to the board: first, to appoint Domínguez as the employer, and second, to formalize his presidential role. Industry observers described Domínguez as a widely supported choice and a consensus candidate. The idea had already received tacit backing from major political groups, with both the PP and PSOE reportedly considering Domínguez as a preferred replacement. Ultimately, Medel’s public stance propelled his own nomination to the forefront of the discussion.
Analysts note that the unfolding events reflect a broader pattern seen in governance reviews at philanthropic or nonprofit foundations, where leadership transitions are scrutinized by stakeholders, funders, and regulatory authorities alike. In markets where governance transparency is a priority, the Unicaja Foundation’s process may be watched closely by regional observers across North America, particularly those tracking comparable institutional leadership changes. Markers of progress include the independence of the review, the breadth of expert input, and the clarity of the succession plan, all of which could influence perceptions of governance quality and long-term stability for the foundation.
As the process advances, observers and practitioners note the importance of clear reporting timelines and well-defined successor criteria. The groundwork laid by Baker McKenzie, with input from other consulted firms, aims to provide a structured assessment that safeguards organizational integrity while ensuring a smooth transition for the foundation’s leadership. Stakeholders will be looking for a transparent rationale behind any recommended leadership moves and a concrete timetable that respects regulatory obligations and the foundation’s mission.
In summary, the ongoing inquiry into Medel’s eligibility, the strategic step of engaging additional firms, and the looming question of succession all converge at a pivotal moment for the Unicaja Foundation. The outcome will hinge on the strength of the report, the receptiveness of the board, and the willingness of participants to align on a plan that sustains the foundation’s work and credibility moving forward.