Argentine opposition demands ex-official Adorni resign from YPF board

Argentine opposition parties are intensifying pressure on former Chief of Staff Manuel Adorni to resign from his position on the board of directors at YPF, the state-owned oil company. Adorni's departure from the executive branch has not quelled political scrutiny surrounding Javier Milei's inner circle.

The opposition's demand escalates amid concerns that Adorni might start receiving significant monthly remuneration from YPF. Reports indicate that board members' fees are around $15,000 USD per month, comparable to executive compensation in similar regional oil companies. This benefit was previously waived by Adorni but could become accessible now that he is no longer in public office.

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If you are so contrite and so determined to 'protect your family,' that letter should also include your resignation from the YPF board. Or do you have a different standard for collecting that seat? With you, when we talk about money, everything changes.

Adorni assumed his role at YPF in January, also taking charge of the "golden share" or Class A stock, which carries veto power. This position was previously held by Guillermo Francos, who remains on the board. Lisandro Catalán, another former official, also holds a board seat. Martín Maquieyra, a former PRO legislator, joined the board alongside Adorni.

Congresswoman Marcela Pagano, a former libertarian ally, was among the first to call for Adorni's resignation from YPF. She publicly questioned on social media whether Adorni applied different standards for compensation, stating, "When we talk about money with you, everything changes." National Deputy Esteban Paulón deemed Adorni's continued presence "unsustainable," calling it an "insult to the Argentine citizenry," particularly given that Adorni is leaving the government amidst potential criminal investigations.

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We are concerned. It is a different situation than Francos or Catalán because Adorni is leaving the government due to a corruption case and is being investigated by the judiciary, about to be indicted. I think it is appropriate for him to resign.