Arca Continental SAB de CV (BMV: AC), one of the worlds largest Coca-Cola bottlers, announced today that, after a remarkable tenure of 14 years as Chairman of the Board of Directors, Manuel L. Barragan Morales will retire from the Board, effective upon conclusion of the General Shareholders Meeting on April 4th, 2019.
In a session held today, the Board of Directors named its new Chairman, Jorge Humberto Santos Reyna, who is currently one of the Vice Chairmen, and designated Barragan Morales as Honorary Lifetime Chairman.
I want to thank the Board, our shareholders and, of course, our associates for the privilege of entrusting me to serve as Chairman of the Board for all these years. We have worked together as a greatly committed team and, by combining the legacies of the various families that make up this company, strengthened our institutional model to drive profitable growth and the creation of shared value in the territories and businesses in which we participate, stated Barragan Morales.
In this new phase, I am completely confident that, guided by the efforts of our employees, the support and vision of Jorge Santos and the Board of Directors, continuous collaboration with The Coca-Cola Company, and the leadership of Chief Executive Officer Arturo Gutierrez, we will maintain our positive evolution, while continuing to develop our associates and provide excellent service to our customers and consumers, he added.
Under the leadership of Barragan Morales, Arca Continental profitably doubled its revenues every 5 years and significantly multiplied its market value. The company experienced strong organic growth combined with constant expansion in geography and other categories, which helped transform it from a regional Mexican business to a multinational corporation in 5 countries. Arca Continental also became the first Latin American bottler in the U.S. upon acquiring the franchise to operate the territories of Texas and parts of Oklahoma, Arkansas and New Mexico.
After being named Chairman of the Board, Jorge H. Santos Reyna expressed his appreciation for the confidence granted in him and reiterated his commitment to continue consolidating Arca Continentals position as one of the most attractive investment options and a leader of the food and beverage industry, and continuously strive to be the international benchmark for best practices in corporate social responsibility.
Together with the Board of Directors, I will assume this great challenge with the utmost commitment to continue building a more competitive company, one that is even more agile, to keep innovating and capitalizing on the different opportunities that will arise, always based on a strong foundation of ethics and values as the framework in all that we do, stated Santos Reyna.
Jorge H. Santos Reyna has been on Arca Continentals Board of Directors since 2001, serving as Vice Chairman since 2007, member of the Planning and Finance Executive Committees, as well as Human Resources 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 Chief Executive Officer of Grupo SanBarr and Member of the Board of Banregio Grupo Financiero, and holds several director roles in industrial chambers and associations, as well as social services.
About Arca Continental
Arca Continental is a company dedicated to the production, distribution, and sale of non-alcoholic beverages which are brand names of The Coca-Cola Company as well as salty snacks under the brands of Bokados in Mexico, Inalecsa in Ecuador, and Wise and Deep River in the United States. With an outstanding track record of more than 93 years, Arca Continental is the second largest Coca-Cola bottling company in Latin America and one of the most important in the world. Within its Coca-Cola franchise, the company serves a population of more than 119 million in the northern and western parts of Mexico as well as Ecuador, Peru, the northern region of Argentina and the Southwestern U.S. Arca Continental is listed on the Mexican Stock Market under the ticker symbol “AC”. For further information about Arca Continental, please visit www.arcacontal.com
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