Alsea Announces Changes to its Executive Management Team

Mexico City, July 6, 2022— Alsea, S.A.B. de C.V. (BMV: ALSEA*) “Alsea”, the leading operator of quick service restaurants, coffee shops, casual and family dining establishments in Latin America and Europe, informs that after a thorough analysis, which considered the CEO’s personal interests, Fernando González Somoza and Alsea’s Board of Directors agreed that Fernando’s term as CEO will end as of Friday, July 8.

Alsea would like to thank Fernando for his commitment and contribution during his time at the Company and wishes him the best in his future personal and professional endeavors.

The Board of Directors has decided to appoint Armando Torrado Martínez as CEO of Alsea, effective Monday, July 11.

Armando has more than 30 years of experience at the company, from the operation of the first Domino’s Pizza stores in Mexico in 1991, to the development of Alsea’s core brands internationally. He was the leader of the Domino’s Pizza corporate stores in Mexico for over 10 years, as well as Domino’s Pizza Mexico General Manager and Development Director of Alsea.

Likewise, he also served as Casual Dining Alsea Director (Chili’s, Italianni’s, P.F. Chang’s, The Cheesecake Factory); Expansion Director for Mexico and South America and Alsea South America Director. In recent years, he has been Alsea International Director (Alsea South America and Alsea Europe), being responsible for approximately 55% of the company’s total sales.

“On behalf of Alsea’s Board of Directors, I would like to thank Fernando Gonzalez for his time leading the Company. We are confident that with Armando at the helm, Alsea will achieve results that affirm its market leadership, meeting and exceeding its targets, supported by agile and operationally-driven decision-making, Armando is a natural operator, he knows all the brands, geographies and culture of Alsea” said Alberto Torrado, Chairman of Alsea’s Board of Directors.

 

Miranda Newswire – Full Press Release: Download PDF

 

Investor Relations Contact Details

Salvador Villaseñor

ri@alsea.com.mx

+52 (55) 7583-2000

 
Forward-Looking Statements
This press release contains certain forward-looking information regarding the Company’s results and outlook. However, actual results may vary materially from these estimates. Information on future events contained in this release should be read jointly with the risk summary in the Annual Report. This information, as well as future reports made by the Company or any of its representatives, whether verbally or in writing, may vary significantly from actual results. These projections and estimates, which are prepared in reference to a determined date, should not be taken as fact. The Company is in no way liable for updating or revising any of these projections and estimates, whether as a result of new information, future events or other associated events.
About Alsea
Alsea is the leading restaurant operator in Latin America and Europe of global brands in the quick service, coffee shop, fast casual, casual and family dining segments. It has a diversified portfolio, with brands such as Domino’s Pizza, Starbucks, Burger King, Chili’s, P.F. Chang’s, Italianni’s, The Cheesecake Factory, Vips, Vips Smart, El Portón, Archies, Foster’s Hollywood, Gino’s, TGI Fridays, Ole Mole and Corazón de Barro. The company operates more than 4,200 units in Mexico, Spain, Argentina, Chile, Colombia, France, Portugal, Netherlands, Belgium, Luxembourg and Uruguay. Alsea’s business model includes support for its brands through a Shared Services Center that provides all the Administrative and Development Processes, as well as the Supply Chain. For more information please visit: www.alsea.com.mx

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