Grupo Elektra Appoints Mario Gordillo to CEO; Luis Nino de Rivera Named CEO of
Proven Experience, Firm Direction, and a Profound Market Knowledge Will
Provide Additional Dynamism to Robust Growth
MEXICO CITY, Feb. 19, 2013 (GLOBE NEWSWIRE) -- Grupo Elektra, S.A.B. de C.V.
(BMV:ELEKTRA*) (Latibex:XEKT), Latin America's leading financial services
company and specialty retailer and the largest non-bank provider of cash
advance services in the United States, and Banco Azteca —first bank focused on
the base of the pyramid in Latin America and a subsidiary of Grupo Elektra—
announced that its respective corporate governance bodies today named Mario
Gordillo Rincón as Chief Executive Officer of Grupo Elektra, and Luis Nino de
Rivera as CEO of Banco Azteca.
Mario Gordillo has held executive positions during the past ten years in Grupo
Elektra, such as Director of Financial Services, Director of Distribution,
Chief Sales Development Officer, and Executive Director. Mr. Gordillo has
played a leading role in positioning the company's financial and commercial
businesses as leaders in the segment of the base of the socioeconomic pyramid
in the countries in which they operate. He has also been a key figure in the
dynamic growth of sales of products on credit during the last few years, and
the solid expansion of numerous product lines. Mario Gordillo holds an
undergraduate degree in industrial engineering from the Instituto Tecnologico
y de Estudios Superiores de Monterrey, as well as a master's in finance from
the same institution, and a Master's in Business Administration from the
Luis Nino de Rivera has been Vice President of the Board of Banco Azteca since
the beginning of its operation in 2002, and has 39 years of experience in the
financial sector. Mr. Nino de Rivera has been key to the firm expansion of
Banco Azteca in Mexico, and Central and South America, as well as to the solid
results and robust balance of the institution. Prior to joining Banco Azteca,
Mr. Nino de Rivera was CEO of Dresdner Bank Mexico, Vice President of Citibank
Mexico, and CEO of Citibank Panama, among other international level positions.
Luis Niño de Rivera holds a bachelor's degree in business administration from
the University of Indiana, and a Master's in International Businesses and
International Politics from the University of New York.
Carlos Septién, Chief Executive Officer of Grupo Elektra and Banco Azteca,
will assume executive responsibilities as part of the Vice Presidency for
Information and Public Issues of Grupo Salinas, with the goal of further
strengthening the institutional relations of the group in Mexico and abroad.
The post of Vice Chairman of the Board of Banco Azteca will be held by
Alejandro Vargas Duran, CPA, who has served as Director of Regulation of Banco
Azteca for the last 10 years. Mr. Vargas has a history of 34 years in the
financial sector, 23 of which were successfully dedicated to regulatory and
The dynamic growth of Grupo Elektra and Banco Azteca is the result of
unparalleled infrastructure and distribution through more than 6,000 points of
sale in nine countries in the Americas; leading positioning in financial
services for the base of the pyramid in Mexico, with more than 16 million
credit accounts and more than 15 million deposit accounts; as well as a
remarkable market share in the country of about 25% of all TV sets, 20% of
refrigerators, and more than 60% of all motorcycles.
The proven experience, firm direction, and profound market knowledge of Mario
Gordillo and Luis Nino de Rivera will provide additional dynamism to the
robust growth of Grupo Elektra and Banco Azteca, under efficiency and optimum
Grupo Elektra and Banco Azteca will further drive the access to consumer
products and financial services under the best conditions for millions of
families in the countries where they operate, effectively contributing to the
elevation of the quality of living of their clients.
Grupo Elektra (www.grupoelektra.com.mx) is Latin America's leading financial
services company and specialty retailer and the largest non-bank provider of
cash advance services in the United States. The Group operates over 6,000
points of sale in Mexico, USA, Brazil, Guatemala, Honduras, Peru, Panama, El
Salvador and Argentina.
Grupo Elektra is a Grupo Salinas company (www.gruposalinas.com), a group of
dynamic, fast-growing, and technologically advanced companies focused on
creating shareholder value, contributing to build the middle class of the
countries in which they operate and improving society through excellence.
Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com),
Grupo Salinas operates as a management development and decision forum for the
top leaders of member companies. The companies include Azteca
(www.irtvazteca.com), Azteca America (www.aztecaamerica.com), Grupo Elektra
(www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Advance
America (www.advanceamerica.net), Afore Azteca (www.aforeazteca.com.mx),
Seguros Azteca (www.segurosazteca.com.mx) and Grupo Iusacell
(www.iusacell.com.mx). Each of the Grupo Salinas companies operates
independently, with its own management, board of directors and shareholders.
Grupo Salinas has no equity holdings. However, the member companies share a
common vision, values and strategies for achieving rapid growth, superior
results and world-class performance.
Except for historical information, the matters discussed in this press release
are forward-looking statements and are subject to certain risks and
uncertainties that could cause actual results to differ materially from those
projected.Other risks that may affect Grupo Elektra and its subsidiaries are
identified in documents sent to securities authorities.
CONTACT: Investor Relations
Tel. +52 (55) 1720-9167
Tel. +52 (55) 1720-9167
+ 52 (55) 1720 1416
Tel. +52 (55) 1720-0059
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