MEXICO CITY — Grupo LALA, S.A.B. de C.V., a Mexican Company focused on healthy and nutritious foods (“LALA”, or “the Company”) (BMV: “LALAB”), today announced that Grupo LALA and Mauricio Leyva have reached a mutual agreement wherein Mr. Leyva will step down as Chief Executive Officer effective December 31, 2019. LALA’s Board of Directors maintains its firm support and endorsement of the Company’s strategy currently in place and of the continued execution of previously announced related initiatives. However, the Company advises that LALA’s results for the fiscal year have fallen short of stated goals and objectives aligned with strengthening the Company’s profitability.
LALA’s Board of Directors has begun a process to identify and appoint a new CEO and further updates will be made in due course. In the interim, former CEO and current member of LALA’s Board of Directors Arquímedes Celis Ordaz will assume the role of CEO supported by members of the operations team.
Mr. Celis, who retired as LALA’s CEO in 2015, first joined the Company in 2001. During his tenure as CEO, Grupo LALA grew sales organically by 11.6% and EBITDA by 11.2% annually, and LALA successfully executed its Initial Public Offering in 2013. Mr. Celis has more than 37 years of experience in related senior management roles with extensive experience in sales, marketing and operations. He serves on the Board of Directors of Pilgrim’s Pride Corporation- a global poultry and prepared foods company with a presence in the United States, Mexico and Europe – since 2019, among other relevant senior management roles.
LALA’s Board of Directors thanks Mr. Leyva for his contributions in support of the Company’s continued evolution on various fronts and wishes him well in his future endeavors.
For more information:
David González Peláez y Elías Rangel
investor.relations@grupolala.com
Tel: +52 55 5814 7124
About LALA
Grupo LALA is a Mexican company focused on healthy and nutritious foods, with more than 65 years of experience in the production, innovation and marketing of milk, dairy products and beverages under the highest quality standards. The Company operates 31 production plants and 172 distribution centers in Mexico, Brazil, United States and Central America, supported by more than 38,000 employees. Grupo LALA’s fleet of approximately 7,000 vehicles distributes its more than 600 products to more than 578,000 points of sale. LALA’s portfolio is led by its three main brands: LALA®, Nutri® and Vigor®.
For more information, visit: www.lala.com.mx
