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 Universidad Panamericana.
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 supervisory functions.
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 profitability criteria.
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.
Company Profile:
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.