Logistic Properties of the Americas Announces Leadership Structure Evolution Strengthening the Organization
May 13 2024 - 4:20PM
Business Wire
Annette Fernandez Appointed as Chief Operating
Officer Paul Smith Appointed Chief Financial Officer
Logistic Properties of the Americas (“LPA”), a leading
developer, owner and manager of institutional quality, Class A
industrial and logistics real estate in Central and South America,
today announced an evolution of its leadership structure
establishing a COO role with a separate CFO position to further
strengthen the team, aligned with LPA’s next phase of growth
following its NYSE listing in March 2024.
LPA's Chief Financial Officer (CFO), Annette Fernandez will be
appointed as Chief Operating Officer (COO) of LPA, effective May
13, 2024, reflecting Annette’s considerable tenure at LPA as well
as the Company’s long-term growth initiatives and an organizational
alignment focused on future performance. Paul Smith has joined LPA
to assume the Chief Financial Officer role, also effective May 13,
2024. Mr. Smith has more than 15 years of experience as a CFO of
public and private companies- including VTrips Holdings, Hoteles
City Express, Envases Universales, SAPI, and Grupo Marti- where he
gained a deep understanding of real estate transactions, financing
negotiation, cross-border acquisitions and integrations, and of
Latin American markets, Mexico in particular.
Esteban Saldarriaga, CEO of LPA, said, “Annette has been an
outstanding contributor and invaluable member of LPA’s executive
leadership team, having served as CFO of LatAm Logistic Properties,
S.A. since 2017 and throughout a period of significant
transformation and growth, culminating in LPA's successful NYSE
listing. As we look to LPA’s future, Annette is well-matched to the
task of driving our firm forward as our Company’s COO. Her
strategic and collaborative leadership has contributed
significantly to our transition to a publicly traded company.” He
continued, “Paul brings the experience and depth of financial
knowledge to take our work to the next level, and I’m pleased to
welcome him to the LPA team to lead our financial operations.” He
continued, “This leadership evolution leverages our Company’s solid
operational foundation to build on the strong momentum across the
Company and execute our growth strategy.”
"I am honored to assume Logistic Properties of the Americas’ COO
role, and am particularly grateful to my LPA colleagues and the
continued support of Esteban and our board of directors," said
Annette Fernandez. "We will continue to build on our strong
foundation to deliver industrial real estate solutions for our
customers, invest in talent and capabilities, and create value for
our shareholders."
“I’m thrilled to join Logistic Properties of the Americas at
such a pivotal moment in its history and feel privileged to have
the opportunity to join LPA's management team, where I can leverage
my considerable experience and knowledge to drive continued
financial growth and operational excellence," commented Paul Smith,
incoming Chief Financial Officer at LPA. "I look forward to the
future ahead, as we work on executing our strategic objectives and
ensuring a smooth transition for all stakeholders."
About Logistic Properties of the Americas Logistic
Properties of the Americas is a leading developer, owner, and
manager of institutional quality, Class A industrial and logistics
real estate in Central and South America. LPA’s customers are
multinational and regional e-commerce retailers, third-party
logistic operators, business-to-business distributors, and retail
distribution companies. LPA’s strong customer relationships and
insight is expected to enable future growth through the development
and acquisition of high-quality, strategically located facilities
in its target markets. As of December 31, 2023, LPA consisted of an
operating and development portfolio of thirty-four logistic
facilities in Colombia, Peru and Costa Rica totaling more than
491,000 square meters (or approximately 5.3 million square feet) of
gross leasable area.
Forward-Looking Statements
This press release contains certain forward-looking information,
which may not be included in future public filings or investor
guidance. The inclusion of forward-looking information in this
press release should not be construed as a commitment by LPA to
provide guidance on such information in the future. Certain
statements in this press release may be considered forward-looking
statements within the meaning of the U.S. federal securities laws.
Forward-looking statements include, without limitation, statements
about future events or LPA's future financial or operating
performance. These forward-looking statements regarding future
events and the future results of LPA are based on current
expectations, estimates, forecasts, and projections about the
industry in which LPA operates, as well as the beliefs and
assumptions of LPA’s management. These forward-looking statements
are only predictions and are subject to known and unknown risks,
uncertainties, assumptions and other factors beyond LPA's control
that are difficult to predict because they relate to events and
depend on circumstances that will occur in the future. They are
neither statements of historical fact nor promises or guarantees of
future performance. Therefore, LPA's actual results may differ
materially and adversely from those expressed or implied in any
forward-looking statements and LPA therefore caution against
relying on any of these forward-looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by LPA and its
management, are inherently uncertain and are inherently subject to
risks variability and contingencies, many of which are beyond LPA’s
control. Factors that may cause actual results to differ materially
from current expectations include, but are not limited to: (i) the
possibility of any economic slowdown or downturn in real estate
asset values or leasing activity or in the geographic markets where
LPA operates; (ii) LPA’s ability to manage growth; (iii) LPA’s
ability to continue to comply with applicable listing standards of
NYSE American; (iv) changes in applicable laws, regulations,
political and economic developments; (v) the possibility that LPA
may be adversely affected by other economic, business and/or
competitive factors; (vi) LPA’s estimates of expenses and
profitability; (vii) the outcome of any legal proceedings that may
be instituted against LPA and (viii) other risks and uncertainties
set forth in the filings by LPA with the U.S. Securities and
Exchange Commission. There may be additional risks that LPA does
not presently know or that LPA currently believes are immaterial
that could also cause actual results to differ from those contained
in the forward-looking statements. Any forward-looking statements
made by or on behalf of LPA speak only as of the date they are
made. Except as otherwise required by applicable law, LPA disclaims
any obligation to publicly update or revise any forward-looking
statements to reflect any changes in their respective expectations
with regard thereto or any changes in events, conditions or
circumstances on which any such statement is based. Accordingly,
you should not place undue reliance on forward-looking statements
due to their inherent uncertainty.
Nothing in this press release should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements,
which speak only as of the date they are made.
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version on businesswire.com: https://www.businesswire.com/news/home/20240513993854/en/
Media Relations Contact: Zach Kouwe / Kendal Till Dukas
Linden Public Relations +1 646-722-6533 LLP@dlpr.com
Investor Relations Contact: Jennifer Carranza Logistic
Properties of the Americas +506 2204-7020 ir@lpamericas.com
Barbara Cano InspIR Group +1 917 861 2530
barbara@inspirgroup.com
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