Grupo Bafar welcomes new independent members to its Board of Directors

CHIHUAHUA, Mexico, Nov. 18, 2022 (GLOBE NEWSWIRE) -- Grupo Bafar, S.A.B de C.V. (BMV: BAFARB) informs the investing public that it maintains the firm commitment to continuously strengthen its corporate governance, seeking gender diversity in the integration of its administrative body and maintaining the majority of independent directors, which further promotes the firm prospects of generation of economic, social and environmental value.

It is through this commitment that at the Annual Shareholders' Meeting held on April 22 of the current year, the incorporation of Gabriela Eugenia Sepúlveda Elizondo to the Board of Directors as an Independent Board Member was approved.

Gabriela Sepúlveda Elizondo is a Public Accountant from Instituto Tecnológico y de Estudios Superiores de Monterrey and has senior management studies from Instituto Panamericano de Alta Dirección de Empresas and Harvard Business School. She is currently CEO of Autotransportes del Real S.A. de C.V and is Counselor to the Economic Development of the State of Chihuahua A.C.

In addition, at the meeting of the Board of Directors on Friday, November 11, the incorporation of Maria Ariza Garcia Migoya as an Independent Board Member was proposed, unanimously approving her incorporation to the Board and whose appointment will be proposed at the next Shareholders' Meeting for ratification.

María Ariza García has a Master of Administration from Harvard Business School and a Master of Industrial Engineer from Universidad Iberoamericana. She is currently the CEO of Bolsa Institucional de Valores (BIVA), holding the position since its creation in 2018. In addition, she was the CEO of Mexican Association of Private Capital (AMEXCAP) and worked in the investment team of the NAFTA Fund of Mexico, LP, a private equity fund focused on investing in medium-sized Mexican companies.

The appointment of Gabriela Sepúlveda Elizondo and Maria Ariza Garcia is aligned with Grupo Bafar's corporate priorities, adding diversity and relevant skills in commercial and financial areas, which will further strengthen the Group's solid decision-making process.

About Grupo Bafar

Grupo Bafar is a 100% Mexican company that has been listed on the Mexican Stock Exchange since 1996 and its Food Division is one of the main producers and distributors in the country of meat and dairy products, it also participates in the real estate sector with Fibra Nova, as well as the financial services sector and in the agro-industrial sector of walnut production mainly. With more than 35 years in the market, it has a presence throughout the Mexican Republic and the southern United States.

For more information, contact:

Luis Carlos Piñón