ICA's Board of Directors names Guadalupe Phillips as CEO
November 03 2016 - 5:30PM
MEXICO CITY, Nov. 03, 2016 (GLOBE
NEWSWIRE) -- Empresas
ICA, S.A.B. de C.V. (BMV:ICA), announced that its Board of Directors
today named Guadalupe Phillips Margain as Chief Executive Officer,
who will report directly to the Board headed by its Chairman,
Bernardo Quintana Isaac. The company continues its focus on its
restructuring process and the new administration will continue to
prioritize the successful conclusion of the company's financial
restructure. During the restructuring process, the company has
consolidated its two major business divisions, construction and
concessions, under two administrations that report directly to the
CEO.
ICA's Chairman of the Board, Bernardo
Quintana Isaac, stated that "Lupe has surpassed the Board's
expectations in her quick ramp up and command of the company's
business in her performance as Chief Restructuring Officer, and we
are happy to have her now transition into the role of CEO."
ICA further announced that using its
power pursuant to the Mexican Securities Market Law, the Board has
provisionally named Rodrigo Quintana Kawage to the Board as a
patrimonial member, in replacement of Luis Zarate Rocha.
Rodrigo is the Company's General Counsel and was the Secretary to
the Board. Bernardo Casas Godoy has now been named Secretary to the
Board. Bernardo, a Universidad Panamericana law graduate, has
been with the Company for 26 years.
This press release contains projections or other
forward-looking statements related to ICA that reflect ICA's
current expectations or beliefs concerning future events.
Forward-looking statements involve inherent risks and
uncertainties. We caution you that a number of important factors
could cause actual results to differ materially from the plans,
objectives, expectations, estimates and intentions expressed in
such forward-looking statements. These factors include
cancellations of significant construction projects included in
backlog, material changes in the performance or terms of our
concessions, additional costs incurred in projects under
construction, failure to comply with covenants contained in our
debt agreements, developments in legal proceedings, unanticipated
increases in financing and other costs or the inability to obtain
additional debt or equity financing on attractive terms, changes to
our liquidity, economic and political conditions and government
policies in Mexico or elsewhere, changes in capital markets in
general that may affect policies or attitudes towards lending to
Mexico or Mexican companies, changes in inflation rates, exchange
rates, regulatory developments, customer demand, competition and
tax and other laws affecting ICA's businesses and other factors set
forth in ICA's most recent filing on Form 20-F and in any filing or
submission ICA has made with the SEC subsequent to its most recent
filing on Form 20-F. All forward-looking statements are based on
information available to ICA on the date hereof, and ICA assumes no
obligation to update such statements.
Empresas ICA, S.A.B. de C.V., carries out large-scale civil
and industrial construction projects and operates a portfolio of
long-term assets, including airports, toll roads, water systems,
and real estate. Founded in 1947, ICA is listed on the Mexican and
New York Stock exchanges. For more information,
visit ir.ica.mx.
For more information, please contact:
Christianne Ibañez
christianne.ibanez@ica.mx
relacion.inversionistas@ica.mx
+(5255) 5272 9991 x 3607
Pablo García
pablo.garcia@ica.mx
Chief Financial Officer
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Empresas ICA, S.A.B. de C.V. via
Globenewswire
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