Axtel CFO Patricio Jimenez to Retire; Company Names Felipe Canales as Successor
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SAN PEDRO GARZA GARCIA, Mexico, Jan. 12 /PRNewswire-FirstCall/ -- Axtel,
S.A.B. de C.V. (BMV: AXTELCPO; OTC: AXTLY) ("AXTEL" or "the Company"), a
Mexican fixed-line integrated telecommunications company, announced today that
Mr. Patricio Jimenez, Chief Financial Officer, will retire from AXTEL
effective March 31, 2009. The Company has chosen Mr. Felipe Canales, Chief
Financial Officer of Sigma Alimentos and former Board Member of Alestra, to
succeed Mr. Jimenez as CFO. After a transition period, Mr. Jimenez will retire
to pursue personal business opportunities in Mexico and will continue serving
as a Director on AXTEL's Board of Directors.
"I have had the opportunity to participate in the creation of a great
company, the largest fixed-line telecommunications competitor in Mexico. It
has been a great honor to work alongside thousands of talented individuals for
more than eleven years, and I leave AXTEL with ample confidence about the
future of this dynamic institution," stated Mr. Jimenez. "Felipe Canales is a
proven executive with meaningful telecommunications knowledge and superb
managerial skills who will provide prudent financial judgment and significant
strategic insight to AXTEL."
Born in Monterrey, Mexico, Mr. Felipe Canales (50) is Chief Financial
Officer of Sigma Alimentos, a processed food company and subsidiary of
Mexico's Alfa. Mr. Felipe Canales also served as a Director at Alestra, the
telecommunications company jointly owned by Alfa and AT&T. Before his position
in Sigma Alimentos, Mr. Canales was Senior Vice President of Corporate
Planning and Economic Studies at Alfa. Mr. Canales also served as Alfa's
Corporate Treasurer from 1996 to 2004. AXTEL's new CFO accumulates 30 years of
experience from Alfa, where he held various senior management positions. Mr.
Canales has a Bachelor's Degree in Industrial Engineering from the Instituto
Tecnologico y de Estudios Superiores de Monterrey and an MBA from The Wharton
School at the University of Pennsylvania. Mr. Canales also participated in the
formation of Alestra.
"We are thankful to Patricio, who led the financial and administrative
efforts in AXTEL since our inception, through the Company's growth phase and
later on during the acquisition and integration of Avantel. His contribution
was extremely valuable in making AXTEL what it is today," stated Mr. Tomas
Milmo Santos, Chairman and Chief Executive Officer. "We are extremely pleased
to be able to bring Felipe's expertise and managerial skills to AXTEL and also
to continue counting on Patricio's experience in our Board of Directors.
Felipe's telecom knowledge, track record and years of financial and
administrative experience at Alfa make him the ideal new CFO. We wish Patricio
all the best in his new personal business pursuits and also welcome Felipe to
AXTEL at a time when we are getting ready to kick-start our 2009 commercial
efforts based on a significantly expanded and robust network."
About AXTEL
AXTEL is a Mexican telecommunications company that provides local and long
distance telephony, broadband Internet, data and built-to-suit communications
solutions in 39 cities and long distance telephone services to business and
residential customers in over 200 cities. AXTEL provides telecommunications
services using a suite of technologies including FWA, WiMAX, copper, fiber
optic, point to multipoint radios and traditional point to point microwave
access, among others.
AXTEL's shares, represented by Ordinary Participation Certificates or
CPOs, trade on the Mexican Stock Exchange under the symbol 'AXTELCPO', and are
part of the IPC Index. AXTEL's American Depositary Shares are eligible for
trading on The PORTAL Market, a subsidiary of the NASDAQ Stock Market, Inc.
Visit AXTEL's Investor Relations Center at www.axtel.com.mx
Forward-Looking Statements
This document contains certain forward-looking statements regarding the
future events or the future financial performance of AXTEL that are made
pursuant to the safe harbor for forward-looking statements provided by the
Private Securities Litigation Reform Act of 1995. These statements reflect
management's current views with respect to future events or financial
performance, and are based on management's current assumptions and information
currently available and are not guarantees of the Company's future
performance. The timing of certain events and actual results could differ
materially from those projected or contemplated by the forward-looking
statements due to a number of factors including, but not limited to, those
inherent to operating in a highly regulated industry, strong competition,
commercial and financial execution, economic conditions, among others.
For additional information, please contact:
Investor Relations
Adrian de los Santos
IR@axtel.com.mx
SOURCE Axtel, S.A.B. de C.V.
Investors, Adrian de los Santos, Axtel, IR@axtel.com.mx
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