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Hugo Lara Named Vitro’s Chief Executive
Officer
Vitro S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), announced that the Company
is taking the necessary measures in order to
embrace the current worldwide financial
situation and with this purpose, the Board of
Directors has decided to provide a professional
approach to the Company’s management by
integrating an independent executive,
designating Hugo Lara as the new CEO of Vitro.
Federico Sada, former CEO
will continue as a member of the Board of
Directors.
“On behalf of each and every
member of the Board of Directors, we wish to
thank Federico for his extraordinary
contribution to the Company during his 34 year
career. We recognize his dedication and
commitment to Vitro during more than three
decades”, said Adrián Sada G., Chairman of the
Board.
Before working at Vitro, Hugo
Lara leaded Parmalat in México as its CEO.
During his more than five years career in the
Company, he has been in charge of several
executive positions and was former Flat Glass
business unit President.
Hugo Lara stated that he will
immediately focus on a cost and expenses
reduction program, as well as to an
organizational restructuring process in order to
strengthen Vitro’s financial position and
liquidity. At the same time, he commented
that each of the Company’s business unit’s plans
will be reviewed to assure its viability through
the challenging financial environment we are
facing.
The Board of Directors
pointed out that it will closely follow each and
every one of the actions implemented in the
future by the Company to assure it continues
creating value for its customers, shareholders,
suppliers, investors, employees, financial
institutions and other key audiences.
Copyright, GANA |
