GUADALAJARA, Mexico,
May 14,
2024 /PRNewswire/ -- Betterware de México, S.A.P.I.
de C.V. (Nasdaq: BWMX) ("BeFra" or the "Company") announced today
that Mr. Diego Gaxiola has been
appointed as Independent Director to BeFra's Board, effective
May 13, 2024.
Following Mr. Gaxiola's appointment, the Company's Board
comprises eleven members who possess a broad range of experience
and skills in key areas such as strategy, finance, digital
business, and marketing. Eight of the eleven Board members are
Independent Directors.
Luis G. Campos, Executive
Chairman of the Board, stated, "We are delighted to welcome Diego
to our Board. Diego is a proven leader with over 20 years of
experience in financial and administrative roles at leading
consumer companies, and he possesses deep knowledge of both the
Mexican and global consumer markets. We look forward to benefitting
from Diego's expertise and are confident he will provide valuable
perspectives as we advance our domestic and international growth
strategies."
Mr. Gaxiola has served as Global CFO for Grupo Bimbo, the
world's leading and largest baking company, since 2017, and has
over 20 years of experience in similar roles. Previously, Mr.
Gaxiola was CFO of Alsea, a leading operator of fast-food
establishments, coffee shops and casual restaurants in Latin America and Spain that bear some of the world's leading
brands. Prior to Alsea, he worked for Grupo Desc in corporate
finance and at Grupo Televisa.
Mr. Gaxiola has a master's degree in finance from Universidad
Anáhuac and a bachelor's degree in business administration from the
University of Newport and Universidad Iberoamericana.
About Betterware
Founded in 1995, Betterware de Mexico is the leading direct-to-consumer
company in Mexico focused on
offering innovative products that solve specific needs related to
household organization, practicality, space-saving, and hygiene.
Through the acquisition of JAFRA on April 7,
2022, the Company now offers a leading brand of
direct-to-consumer in the Beauty market in Mexico and the
United States where it offers Fragrances, Color &
Cosmetics, Skin Care, and Toiletries. The combined company
possesses an asset-light business model with low capital
expenditure requirements and a track record of strong
profitability, double digit rates of revenue growth and free cash
flow generation. Today, the Company distributes its products in
Mexico and in the United States of America.
Cautionary Statement Regarding Forward-Looking
Statements
Matters discussed in this press release may constitute
forward-looking statements. Forward- looking statements include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts.
The words "believe," "anticipate," "intends," "estimate,"
"potential," "may," "should," "expect" "pending" and similar
expressions identify forward- looking statements. The
forward-looking statements in this press release are based upon
various assumptions. Although we believe that these assumptions
were reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations.
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SOURCE Betterware de México, S.A.P.I. de C.V.
