Grupo LALA Announces CEO Succession Plan
MEXICO CITY, Jan. 5, 2015 /PRNewswire/ -- Grupo LALA, S.A.B. de C.V. (BMV: LALAB) ("Grupo LALA" or "LALA"), Mexico's leader in healthy and nutritious foods, announced today that it has initiated its CEO succession plan which will take effect in mid-2015.
Eduardo Tricio, Grupo LALA's Chairman of the Board of Directors, has advised that Chief Executive Officer Arquimedes Celis informed the Board of his decision to retire from the Company effective June 30, 2015 at the age of 62 after successfully leading the Company for the past fourteen years. After June 30, 2015, Mr. Celis will remain with the Company in an advisory capacity and will retain his position on LALA's Board of Directors. In accordance with the Company's succession plan, the Board of Directors has appointed Scot Rank, 53, retiring CEO of Walmart de Mexico and Central America ("Walmex"), to succeed Mr. Celis as Chief Executive Officer.
Mr. Tricio commented: "On behalf of the entire Board of Directors, I would like to thank Arquimedes for his considerable contributions to our Company throughout his tenure at LALA; his leadership and expertise since joining LALA in 2001 have been invaluable. We are grateful for his dedication and exceptional service." He continued, "Scot Rank is a proven leader with substantial experience in both consumer and retail businesses, which are core to what LALA has done since our inception. Scot has the vision and leadership skills necessary to lead the Company into its next phase of growth and innovation. I look forward to working with Scot and Arquimedes closely throughout this transition."
Scot Rank held senior leadership positions in Walmex for the past ten years; as President and CEO since 2010 and as Executive Vice President and Chief Operating Officer from 2005-2009. During this period the Company increased sales by 230% and operating profits by 280%. Prior to this role he served as Senior Vice President for self-service, responsible for Walmart, Bodega Aurrera and Superama, and began his career at Walmart with Bodega Aurrera in December 2000. Scot also worked in Mexico for the McKinsey & Co. consultancy firm and, in the consumer goods industry at The Coca-Cola Company and at Grupo Crisoba (Scott® Paper Mexico).
"I am honored to lead the Company and energized by the many exciting growth opportunities I see in the coming years for LALA," said Scot Rank. "Since the Company was founded more than 60 years ago, LALA has thrived on a forward thinking approach thanks to the vision of its leaders and the dedication of its colleagues," Scot Rank said. "I look forward to leading the Company during this dynamic time and to building on this history of success through continuous innovation and growth."
Commenting on his retirement, Arquimedes Celis said: "I have thoroughly enjoyed my fourteen years with Grupo LALA and appreciate the support from LALA's board, shareholders, employees, customers and business partners. I have tremendous respect for Scot, whose undoubted success in the future will be a reflection of his experience and skills- I know he is the right leader at the right time for LALA. I am looking forward to my retirement which will include active participation as a member of Grupo LALA's Board."
About LALA
Grupo LALA, (BMV: LALAB), Mexico's leader in healthy and nutritious foods, has a history of more than 60 years of experience in the production, innovation and marketing of milk and dairy products under the highest quality standards. The Company operates 17 production plants and 160 distribution centers in Mexico and Central America, supported by more than 31,000 employees. Grupo LALA's fleet of approximately 7,300 vehicles distributes its more than 600 products to nearly 500,000 points of sale. LALA's portfolio is led by its two main brands: LALA® and Nutri Leche®.
For more information please visit: www.grupolala.com
Grupo LALA trades on the Mexican Stock Exchange under the ticker symbol "LALA B"
SOURCE Grupo LALA, S.A.B. de C.V.
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