Organizational Changes in Graña y Montero Group
February 28 2017 - 12:28PM
Business Wire
Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the Company”
or “Graña y Montero”), a leading Engineering and Construction
company, announced that in the context of the termination of the
contract of Gasoducto Sur Peruano, the alleged false imputations
made by the former representative of Odebrecht in Peru and the
decline in the share price, José Graña Miro Quesada (Chairman of
the Board), Mario Alvarado Pflucker (Chief Executive Officer) and
Hernando Graña Acuña (Director) presented their resignations to the
positions they held, which were accepted by the Board of
Directors.
The session recognized the gesture of these three executives who
have put ahead the development of the company, collaborators and
shareholders before their own interests, so the Board of Directors
expressed their gratitude and appreciation.
Likewise, the Directors thanked their commitment of contributing
with their effort and personal dedication to demonstrate the
correct behavior of Graña y Montero.
At the same meeting, the Directors agreed to designate Luis Díaz
Olivero as Chief Executive Officer, who has been serving as Deputy
CEO.
Throughout its 83 years Graña y Montero has demonstrated through
its actions, to be an honest, upright and transparent company. The
unacceptable behavior that is intended to be imputed is completely
external to its corporate values.
Mario Alvarado Pflucker said that this decision is the most
difficult that he has taken in his 36 years in Graña y Montero
Group. "I have decided to step aside from the functions of CEO and
Director because the priority is to ensure the future of the
company and its more than 30,000 employees. Therefore I will devote
myself to demonstrate the correct behavior of Graña and
Montero.”
For his part, José Graña mentioned that it is now for a new team
to hold the reins and take the best decisions for the company and
its employees. "The future of Graña y Montero is assured thanks to
the new generation of collaborators who will maintain the
recognized quality of our work, the professionalism and the
competitiveness that has characterized us," he concluded.
About Luis Diaz Olivero
He is an Industrial Engineer from Pontificia Universidad
Católica del Perú and holds a master’s degree in Business
Administration from the University of Pittsburgh.
He joined the Group as an intern in 1993. He began his career as
Assistant Engineer and ascended up to Deputy Chief Executive
Officer. Prior to this position, he was Chief Executive Officer of
the Infrastructure Area between 2013 and 2015, and then assumed a
position as Chief Operating Officer in 2016. He previously served
as Chief Executive Officer of GMP between 2011 and 2013. In
addition, he was Deputy Executive Director of GMP between 2009 and
2011, Chief Financial Officer of the Group between 2004 and 2009,
and Chief Financial Officer of GyM between 2001 and 2004.
About Graña y Montero S.A.A.
Graña y Montero is the largest and most important Engineering
and Infrastructure Company in Peru. It has 26 companies in 4
Business Areas and operates in 5 countries in Latin America. It is
the only South American construction company listed in the Lima
Stock Exchange and in the NYSE. It has 83 years of operations, due
to its corporate values, which have always guided the behavior of
its employees. It has been an example in the region for its good
practices in corporate governance and has been continuously
considered as one of the most admired and renowned firms of the
country.
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version on businesswire.com: http://www.businesswire.com/news/home/20170228006548/en/
Graña y Montero S.A.A.Samantha Ratcliffe,
511-213-6573Head of Investor
Relationssamantha.ratcliffe@gym.com.perelacion.inversionistas@gym.com.pehttp://investorrelations.granaymontero.com.pe/orBelén
Masson, 511-213-6565, ext. 6453Investor Relations
Assistantbelen.masson@gym.com.pe
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