ICA announces new management structure

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ICA announces new management structure

Empresas ICA has announced organizational and management changes to streamline operations, strengthen client focus, and improve the company's profitability and financial position.

The management changes were approved by the Board of Directors and are part of ICA's ongoing leadership transition process. These changes will be effective on June 1, 2015. The organizational changes will realign business units to match client profiles and ensure end-to-end execution of projects. The most important changes are in the Construction, International, and Concessions divisions.

Alonso Quintana, ICA's CEO, noted,

"As ICA continues to grow and the complexity of our businesses increase, we are realigning our business units to streamline operations, strengthen our balance sheet, improve our profitability, and ultimately to continue to deliver the best solutions for our clients. We expect to make other announcements in the near future that will further demonstrate ICA's commitment to these principles."

The Construction division will be reconfigured to focus on public and private third party clients in Mexico, and will be led by Jorge Delgado, currently the most senior manager in the Construction division. With more than 37 years of experience in ICA, he has been responsible for the construction of many of ICA's signature highway, dam, airport, and mining projects.

The International division will manage all construction projects for international clients and oversee international affiliates. This change reflects the growing importance of ICA's international business and the opportunities for greater integration of these operations. Rubén López, head of International business development, will head this division.

The reconfigured Concessions division will integrate all phases of the infrastructure concessions life cycle, including construction, management and operation, as well as capital recycling transactions. Victor Bravo, currently CFO, will head this division.

Gabriel de la Concha will become Chief Financial Officer. He has been responsible for all structured, project, and corporate financing for the Company and has been ICA's Treasurer for the last decade. He has a 23-year career in ICA and holds an Industrial Engineering degree from the Instituto Tecnológico y de Estudios Superiores de Monterrey, a Master's degree in International Finance from the University of Westminster in England and the École Supérieur de Commerce CERAM in France, and has pursued additional studies in Stanford Graduate School of Business and the University of Pennsylvania's Wharton School of Business.

Luis Horcasitas and Carlos Mendez, current leaders of the Construction and Concessions divisions, respectively, will now become Executive Vice Presidents, advising the CEO and Executive Committee.

Bernardo Quintana, Chairman of the Board, said,

"ICA has been engaged in an orderly leadership transition process, steadily renewing the leadership of the company at all levels for the past eight years. The changes announced today are part of this process. They also reflect the growing importance of our concessions and international operations and the benefits of streamlining the organization and increasing accountability."

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