On October 22, Carlos Hank González received the vote in favor of Grupo Financiero Banorte shareholders to join the Board of Directors. Hank González will be ratified in the position by the Board of Directors on the 23rd of this month, the institution reported in a statement.
At the ordinary general shareholders’ meeting, Hank González obtained 76% of the votes in favor and the rest were abstentions, meaning he will replace his mother, Graciela González Moreno, on the Board.
“The percentage of abstentions is within the typical range observed in most items voted on at shareholders’ meetings,” Banorte explained.
On October 7, 2014, Grupo Financiero Interacciones announced that its CEO, Carlos Hank González, had resigned from his position to join the board of directors of Grupo Financiero Banorte. At the time, the executive ruled out the possibility of a merger between the two banks.
The vote took place in Monterrey, Nuevo León, at the Banorte Tower.
Banorte has more than 6,000 investors. The main ones are:
The González family, with 11% of the capital;
The Villarreal family, with around 3%;
The Abberdeen capital fund, with 7%;
Blackrock, with 5%;
plus 470 other major investors.
Since August 11, when it was announced that Ortiz could leave the Board, Banorte’s market capitalization had fallen by 26.156 billion pesos as of October 20.
Hank González is a member of the González family and heir to Roberto González Barrera, founder of Mexico’s third-largest bank by loan portfolio.
Carlos Hank, in addition to representing the link between two of Mexico’s most powerful families, the González Barreras and the Hank Gonzálezes, is set to take over as president of the Group if Guillermo Ortiz resigns.
To date, Banorte’s Board of Directors is composed as follows:
Guillermo Ortiz Martínez, president and related director;
Graciela González Moreno, David Villarreal Montemayor, and Juan Antonio González Moreno, as equity directors;
Everardo Elizondo Almaguer, Alfredo Elías Ayub, Herminio Blanco Mendoza, Adrián Sada Cuena, Patricia Armendáriz Guerra, Armando Garza Sada, Héctor Reyes-Retana, Juan Carlos Braniff Hierro, Miguel Alemán Magnani, and Alejandro Burillo Azcarraga as independent directors;
Alejandro Valenzuela del Río, director, as related director.
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