MEXICO CITY, May 17, 2017 (GLOBE NEWSWIRE) -- Grupo Elektra, S.A.B. de C.V. (BMV: ELEKTRA*; Latibex: XEKT), Latin America’s leading specialty retailer and financial services company and the largest non-bank provider of cash advance services in the United States, announced today it received the Best Corporate Governance Mexico Award 2016 from CFI.co Awards — a program that aims to identify and reward organizations and individuals that add value to society.
The CFI.co Judging Awards Panel indicated that Grupo Elektra maintains a solid corporate governance framework that ensures consistent results. In a press release and a recent publication, CFI.co highlighted that since its beginnings in 1950, Grupo Elektra has helped customers increase well-being through goods and services that adequately meet their needs.
It added that the company's business model — which is based on dynamic financial and commercial activities — has a strong social orientation, as it promotes financial inclusion, with deposit accounts that can be opened for as little as one Mexican peso and no commissions, with microfinancing, which allows the generation of jobs and increase the income of the communities, and with accessible goods that bring well-being to households in Mexico and Central and South America. It also mentions the relevance of Advance America in the important role of bringing short-term loans to the US working class.
The publication says that the Board of Directors of the company is composed of members with proven experience in successful businesses, and that the management team led by Pedro Padilla, a young and experienced executive who focuses on strategic planning and efficient operations in Grupo Salinas, in his search to maximize synergies and generate outstanding results in the companies that compose it.
The article adds that Alejandro Valenzuela, with unparalleled experience in the financial sector, has been instrumental in the strong expansion of Banco Azteca, with encouraging results and a solid balance sheet; meanwhile, Fabrice Deceliere, head of the Elektra Stores has led to robust expansion through a mix of in-store products that maximizes customer satisfaction, through a highly trained sales force, at optimum market conditions.
Alberto Tanus, head of the the motorcycle brand Italika, has a 60% market share in Mexico, thanks to the fact that it offers an efficient, safe, accessible and environmentally friendly transportation to millions of families.
Rodrigo Pliego, Chief Financial Officer of Grupo Salinas, has designed strategies that drive operational efficiencies and control costs effectively — which increases the profitability of Grupo Elektra — as well as helping to further strengthen the company's strong capital structure.
Manuel González, IT director, has been of great importance in the development of state-of-the-art technologies that make possible the dynamic growth of the company, which allows offering services with the highest standards of efficiency to its clients.
Grupo Elektra is firmly committed to continuing to drive the best corporate governance practices, which strengthen business performance and drive the well-being and progress of the communities in which it operates.
For more information, see the official announcement on CFI.co Website.
Company Profile:
Grupo Elektra 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 more than 7,000 points of contact in Mexico, the United States, Guatemala, Honduras, Peru, Panama and El Salvador.
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 building 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 TV Azteca (www.tvazteca.com; www.irtvazteca.com), Azteca America (us.azteca.com), Grupo Elektra (www.elektra.com.mx: 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), Totalplay (www.totalplay.com.mx) and Enlace TP (enlacetp.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.