Arca Continental S.A.B. de C.V. issued the following announcement on Jan. 22.
Arca Continental SAB de CV (BMV: AC), one of the most important Coca-Cola bottling companies in the world, announced today that after an outstanding career of 14 years as President of its Board of Directors, Manuel L. Barragán Morales, has decided to conclude his cycle at the head of the Board, which will be effective at the end of the Annual Shareholders' Meeting, which will be convened to be held on April 4.
In a session held today, the Board of Directors appointed as its next President Jorge Humberto Santos Reyna, currently one of the Vice Presidents thereof, as well as appointed Barragán Morales as Honorary Lifetime President.
"I thank the Board, the shareholders and of course the collaborators for the privilege that they have entrusted to me to serve as Chairman of the Board all these years, in which they work with a great commitment as a team and integrating the legacy of the different families that form This company, we have strengthened our institutional model to promote profitable growth and the creation of shared value in the territories and businesses in which we participate, "said Manuel L. Barragán Morales, Chairman of the Board of Directors.
"In this new stage, I fully trust that, guided by the efforts of the collaborators, the support and vision of Jorge Santos and the Board of Directors, the continued collaboration with the Coca-Cola Company, as well as the leadership of our General Director, Arturo Gutiérrez, we will keep our positive evolution firm, taking care of the development of the collaborators and an excellent attention to clients and consumers, "he added.
During the management of Manuel L. Barragán Morales, Arca Continental has doubled its sales profitably every 5 years and has managed to multiply its market value significantly, thanks to strong organic growth coupled with constant geographical expansion and other categories , which has allowed it to transform, from a regional business in Mexico, to a multinational with presence in 5 countries, as well as being the first Latin American bottler in the United States, by acquiring the franchise to operate the Texas territories and parts of Oklahoma, Arkansas and New Mexico.
Upon being named next Chairman of the Board, Jorge H. Santos Reyna thanked the confidence and reiterated his commitment to continue consolidating Arca Continental as one of the most attractive investment alternatives, a leader in the food and beverage industry, as well as constantly seeking be an international reference of good practices in the different areas of the company.
"I will take on this great challenge with the greatest commitment, together with the Board of Directors, to continue building a more competitive, even more agile company, to continue to innovate and capitalize on the different opportunities that arise, always based on a strong platform of ethics and values as a guide in everything we do, "said Santos Reyna.
Jorge H. Santos Reyna participates in the Board of Directors of Arca Continental since 2001, is one of its vice presidents since 2007, member of the Executive, Planning and Finance committees, as well as Human Capital and Sustainability. He is Chairman of the Board of the subsidiary AC Bebidas and was Chairman of the Board of Arca Continental South America. He is the General Director of Grupo SanBarr and a member of the Banregio Board of Grupo Financiero, as well as holding various management positions in chambers and industrial associations, as well as social assistance.
Original source can be found here.
Source: Arca Continental S.A.B. de C.V.