Executive Board

Ernestina Benedetto joined VARO’s M&A and Strategy team in 2018. She brings more than 10 years of experience in M&A, strategy and corporate development across different industries and geographies (Europe, Asia and Latin America).

She started her career in M&A advisory in Argentina, and then moved to corporate development and strategy roles in Singapore and Switzerland.

She holds a degree in Economics and an MBA from INSEAD.

Hugues joined VARO in March 2025 as Executive Vice President, Operations, Projects & Infrastructure, and is based in Zug. 

Before joining VARO, he spent over 30 years at Shell in senior leadership roles across operations, manufacturing, and asset management. Most recently, he was EVP, Safety, Environment & Asset Management, leading a global team focused on operational excellence, safety, and decarbonisation. Previous roles include Vice President Manufacturing, General Manager of the Bukom Refinery and Petrochemicals site in Singapore, General Manager of the Shell Convent Refinery in Louisiana, USA, and Senior Manager for Mergers, Acquisitions & Divestments at Shell International, focusing on Downstream Europe. He holds a degree in Chemical Engineering from UTC in France and a Master in Mechanical Engineering from the University of Houston. 

At VARO, he is responsible for the safe and reliable operations of the company’s manufacturing and infrastructure network, driving efficiency, optimising commercial performance, and supporting strategic growth through the projects organisation. 

Rick Klop joined VARO in 2015 as part of the merger with Argos, where he had been on the Board of Directors since 2009. Rick brings 17 years of experience in the mid- and downstream oil business, where he has held different leading and directing roles in Supply Trading & Bunkering, Strategy & Investments and Finance (CFO).

His main areas of expertise are within oil, trading, commodities, oil logistics, oil marketing, retail, M&A, finance, risk management and general management. After his role as Country Manager, where Rick was leading VARO’s activities in Benelux and France, as well as looking after the Retail Strategy for the Group, he took on the role as Chief Financial Officer in June 2020. In this role he oversaw the company's financial operations. As of December 2023, Rick has been appointed EVP and Chief Operating Officer, Markets and Commercial, where he continues to drive the company's growth and operational excellence in its commercial activities.

Georges joined VARO in December 2023 in the position of Executive Vice President and Chief Financial Officer and is based in Zug.

Prior to this, Georges was CFO at ADNOC Refining, based in Abu Dhabi. Before joining ADNOC in 2018, he served in Shell for over 20 years in senior financial positions in the UK, The Netherlands, Sakhalin in Russia and Brunei. He was Vice President of Investor Relations, Financial Controller, and Finance Director of Brunei Shell Petroleum amongst other positions. Georges brings to VARO world class financial and capital markets expertise and experience in transforming and scaling multi-national finance functions. He plays an important role in ensuring that VARO has the financial capability as well as the necessary infrastructure and capacity in place for the next phase of growth.

Since the merger of VARO Energy and Argos in 2015 Theo Pannekeet has been Product Trading director and in 2018 switched over to lead the Renewables activities of the group. He started working in the oil business in 1998, initially at Petroplus Tankstorage and later on for physical oil broker company Starsupply. In the role of Product trader Theo joined Van der Sluijs, a precursor company of VARO, in 2008, which after several mergers (North Sea Group and Argos) became VARO Energy.

As from 2014 he changed his role as Product trader for a position in the Management Team to lead the Wholesale, Product Trading, Biofuels and Logistic activities/teams of Argos in the Benelux, Germany and France. His background of exposure management, (international) oil market expertise and renewables, linked to his extensive knowledge of several other key business areas/assets make him a major contributor to the success of VARO Energy.

Gilles Vollin has more than 30 years of extensive experience in the oil industry, having performed in several senior management roles and directorship positions. During his career in refining, Gilles has developed an extensive knowledge in refinery operations, safety and reliability management, economics optimization and asset strategy development.

After leading the Berre Refinery (France) he became Director of the Cressier refinery (Switzerland). In 2012, Gilles acted as Chairman of the Board of Directors of the Petroplus Cressier Refinery and Pipeline companies in composition proceedings until the successful sale of the assets.

In 2015 he became VARO Energy Director HR & HSEQ and in 2022 he assumed the role of EVP Integration and Capability, with responsibilities for organization and people development, new capabilities, and the positioning of the company.

Keir Ashton joined VARO as General Counsel in September 2024. Keir is responsible for overseeing all legal matters, including compliance with legislation, and providing legal guidance on operations, new business opportunities, M&A, and financing transactions. His role is crucial in driving the legal support required for VARO’s ONE VARO Transformation strategy, with a particular focus on building strategic partnerships and joint ventures.

Keir has over 25 years of international legal experience across a variety of sectors, including commodities, media, and technology and deep expertise in M&A, international trade, and corporate finance.

Before joining VARO, Keir spent 15 years at Louis Dreyfus Company, a global leader in commodities trading, where he held the position of Group General Counsel and led high-value transactions and strategic litigation. Earlier in his career, he built a distinguished track record at Bloomberg L.P. in New York and The Wireless Group in London, where he played a key role in leading their IPO.

Keir is a graduate of the London School of Economics and is a qualified solicitor, having trained at Clifford Chance in London and Paris. He is also a trustee of the Scottish Association of Marine Science, furthering his commitment to environmental sustainability.

Under his leadership, VARO’s legal department is set to continue supporting the company’s ambitious goals.