02/07/2026 03:11 - Politica
Manuel Adorni has officially resigned from YPF's board of directors through a formal letter addressed to the oil company's president, Horacio Marín. In this communication, he announced his decision to step down from his position as Director representing Class A shares. This move completes the former official's disconnection from all his public positions.
The brief but formal letter states: "I address you to inform you, and through you to the Board of Directors of YPF S.A., of my resignation from the position of Director representing Class A shares. Without further ado, I greet you and through you the members of the Board, Manuel Adorni."
Adorni resigned as Cabinet Chief (similar to a Prime Minister or Chief of Staff role in other countries) on June 27, 2026, after three months of judicial controversy. Federal prosecutor Gerardo Pollicita is investigating asset movements that showed a questioned increase of 775% in his personal wealth.
Key elements under investigation include:
YPF S.A. (Yacimientos Petrolíferos Fiscales) is Argentina's largest energy company. Originally founded in 1922 as a state enterprise, it was privatized in the 1990s and later re-nationalized in 2012. It operates as a hybrid public-private company where the Argentine government holds Class A shares that guarantee board representation.
Adorni held his position as a state representative on the board—a position that carries significant compensation within the typical "political appointment" system for state-owned companies in Argentina.
According to sources, YPF's board may meet next Wednesday to formally accept the resignation and determine who will fill the former Cabinet Chief's seat.
President Javier Milei (Argentina's libertarian president elected in 2023) publicly defended Adorni after his departure: "I still trust Adorni's innocence. He is an honest person," he stated in an interview with La Nación+.
Milei criticized what he called a "pre-judgment logic": "Has justice already ruled on this? Is there a verdict? Well then. What is this about condemning and executing people before justice has spoken?"
Regarding the reasons for resignation, Milei was categorical: "Facing situations where Manuel's children were attacked, Manuel decided to step aside because he could no longer put his family at risk."
Milei rejected the notion that Adorni represented a governance problem and enumerated legislative achievements during his administration:
✓ European Union-Mercosur Agreement
✓ Holdout debt resolution
✓ Labor modernization
✓ Fiscal innocence law
✓ Glaciers Law
✓ Criminal responsibility age reduction
"These are things that not even military governments achieved. And we did them in three months," Milei emphasized.
Diego Santilli assumed the new Cabinet Chief position on June 30, 2026, in a ceremony at the Salón Blanco of the Casa Rosada (Argentina's presidential palace, similar to the White House). The former Interior Minister now faces the challenge of reorganizing government management while the judicial case against Adorni continues its course in the federal court under Prosecutor Pollicita.
Source: Infobae
Alfredo S. Quiroga
