Grupo LALA, S.A.B. de C.V. (BMV: LALAB) ("Grupo LALA" or "LALA"), Mexico's leader in healthy and nutritious foods, announced today that it has initiated its CEO succession plan which will take effect in mid-2015.
Eduardo Tricio, Grupo LALA's Chairman of the Board of Directors, has advised that Chief Executive Officer Arquimedes Celis informed the Board of his decision to retire from the Company effective June 30, 2015 at the age of 62 after successfully leading the Company for the past fourteen years. After June 30, 2015, Mr. Celis will remain with the Company in an advisory capacity and will retain his position on LALA's Board of Directors. In accordance with the Company's succession plan, the Board of Directors has appointed Scot Rank, 53, retiring CEO of Walmart de Mexico and Central America ("Walmex"), to succeed Mr. Celis as Chief Executive Officer.
Mr. Tricio commented: "On behalf of the entire Board of Directors, I would like to thank Arquimedes for his considerable contributions to our Company throughout his tenure at LALA; his leadership and expertise since joining LALA in 2001 have been invaluable. We are grateful for his dedication and exceptional service." He continued, "Scot Rank is a proven leader with substantial experience in both consumer and retail businesses, which are core to what LALA has done since our inception. Scot has the vision and leadership skills necessary to lead the Company into its next phase of growth and innovation. I look forward to working with Scot and Arquimedes closely throughout this transition."
Scot Rank held senior leadership positions in Walmex for the past ten years; as President and CEO since 2010 and as Executive Vice President and Chief Operating Officer from 2005-2009. During this period the Company increased sales by 230% and operating profits by 280%. Prior to this role he served as Senior Vice President for self-service, responsible for Walmart, Bodega Aurrera and Superama, and began his career at Walmart with Bodega Aurrera in December 2000. Scot also worked in Mexico for the McKinsey & Co. consultancy firm and, in the consumer goods industry at The Coca-Cola Company and at Grupo Crisoba (Scott® Paper Mexico).