GUADALAJARA, Mexico, Oct. 27,
2022 /PRNewswire/ -- Betterware de Mexico
S.A.P.I. de C.V. (NASDAQ: BWMX) ("Betterware" or "The Company")
announced that Alejandro Ulloa
joined as Chief Financial Officer on October
3, 2022. Carlos Doormann,
Chief Financial Officer since October
2021, has transitioned into a new role as Corporate Chief
Investor Relations and Strategy Projects. Mr. Ulloa and Mr.
Doormann report to Luis Campos,
Executive Chairman of the Board.
Mr. Alejandro Ulloa joins
Betterware with extensive experience at large and multinational
companies including Citelis (Organización Ramírez), where he served
as Chief Financial Officer; General Electric, as Director of
Equity; and at Banamex Citigroup, where he held various positions
of increasing responsibility, including Vice President of Financial
Institutions at the Corporate and Investment Banking, Manager of
Relations with Financial Institutions and Corporate and Investment
Bank, Relationship Manager for Institutional Remedial Management
and Credit Analyst. Mr. Ulloa also served as a member of Banorte's
regional Board. He has a BS in Economics from ITAM, where he also
received a Diploma in Credit and Financial Risk Management. Mr.
Ulloa holds an MBA from Yale University
and has an Executive Diploma in Real Estate Management from
Harvard University.
Luis G. Campos, Executive
Chairman of the Board, stated, "We are pleased to welcome
Alejandro Ulloa to the Betterware
family as Chief Financial Officer. Alejandro's significant
experience in finance and banking is expected to be highly valuable
to Betterware Group, as we execute our operational and financial
strategies that we expect to position our Company for long-term,
profitable growth. I also want to thank Carlos for his
contributions as Chief Financial Officer and expect to continue to
benefit from his business acumen in his new role."
"I am excited to join Betterware and bring my experience to
build upon the strong foundation that has been created to advance
the Company's leadership as a direct seller of home organization
and household products in Mexico
and assist to direct the integration of the recently acquired Jafra
business. With significant competitive advantages, expansion into
the resilient beauty category and new geographic opportunities, I
believe Betterware Group has significant potential for sales and
earnings growth. I look forward to assisting the company to realize
its goals and importantly create value for its
shareholders."
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 regarding
organization, practicality, space saving and hygiene within the
household. With the acquisition of JAFRA on April 7, 2022, the Company now offers a leading
brand of Direct Selling in the Beauty and Personal Care products
industry 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 Guatemala, and with its recent acquisition, it
now has gained presence in the United
States through JAFRA's portfolio of products.
Carlos Doormann, joined
Betterware as Chief Financial Officer in October 2021 and possesses significant experience
in the execution of financial and business strategies, investor
relations, risk management, financial planning, treasury,
procurement, among other areas of expertise. Prior to joining
Betterware, he was CFO of Grupo Alpura and CFO of Club Premier. His
diverse background includes finance positions at leading global
companies including Philip Morris International, Kraft Foods,
Boehringer Ingelheim and Aeromexico in Mexico and in the
United States. Mr. Doormann holds a B.A. in Economics from
ITAM and an MBA from Yale
University.
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SOURCE Betterware de México, S.A.B. de C.V.