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—Brings proven experience in planning, financial strategy and budget control—
—Replaces Carlos Hesles who becomes Director of Administration—
MEXICO CITY, Dec. 03, 2015 (GLOBE NEWSWIRE) -- TV Azteca, S.A.B. de C.V. (BMV:AZTECA) (Latibex:XTZA), one of the two largest producers of Spanish-language television programming in the world announced today that Esteban Galíndez Aguirre was appointed CFO of the company, replacing Carlos Hesles, who will become Director of Administration.
Mr. Galíndez has 16 years of experience in strategic positions in Grupo Elektra. He served as Director of Finance and was instrumental in obtaining funds through innovative mechanisms and their allocation to investment projects that maximize the value of the company. He also had responsibilities in planning, financial strategy, budget control and treasury, as well as designing and implementing programs that drive operational efficiency and strengthen profitability.
Previously, he was active in equity research at Deutsche Bank with recommendations that generated solid returns, and was instrumental in the reorganization of the treasury of Procter & Gamble where he had a favorable impact on profitable investments and designed cost efficiency strategies for the company.
At TV Azteca, Mr. Galíndez will focus on reinforcing budget control and strict monitoring of costs, as well as optimizing profitability and maximizing cash generation of every project.
Esteban Galíndez has a degree in Business Administration from the Universidad Iberoamericana and an MBA from McGill University; he is also a CFA charterholder.
"I am convinced that with Esteban we take a step further into the bright future that we want for TV Azteca, as he will be decisive in strengthening cash flow and the capital structure," commented Benjamin Salinas Sada, CEO of TV Azteca. “I thank Carlos for his valuable contribution to the company’s results for over 10 years, and I am sure he will continue developing optimal standards of efficient management.”
Carlos Hesles, the prior CFO, will become Director of Administration, with the responsibility of detailed information analysis for decision making, based on his deep knowledge of the company and broad experience in the business operation.
Company Profile
TV Azteca is one of the two largest producers of Spanish-language television programming in the world, operating two national television networks in Mexico, Azteca Trece and Azteca 7, through more than 300 owned and operated stations across the country. TV Azteca affiliates include Azteca America, a broadcast television network focused on the rapidly growing U.S. Hispanic market, and Azteca Web, an Internet company for North American Spanish speakers.
TV Azteca is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating shareholder value, contributing to build the middle class of the countries in which they operate, and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. The companies include: TV Azteca (www.irtvazteca.com), Azteca America (www.aztecaamerica.com), Grupo Elektra (www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Advance America (www.advanceamerica.net), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx), Totalplay (www.totalplay.com.mx) and Enlace TPE (www.enlacetpe.com.mx). Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. However, member companies share a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.
Except for historical information, the matters discussed in this press release are forward-looking statements and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Other risks that may affect Azteca and its subsidiaries are identified in documents sent to securities authorities.
Investor Relations Bruno Rangel Grupo Salinas Tel. +52 (55) 1720-9167 [email protected] Rolando Villarreal Grupo Salinas Tel. +52 (55) 1720-9167 [email protected] Press Relations Luciano Pascoe Grupo Salinas Tel. +52 (55) 1720 1313 ext. 36553 [email protected] Daniel McCosh Grupo Salinas Tel. +52 (55) 1720-0059 [email protected]
