Jorge Brake retains his active role
Continues as an active Vice-Chair of the Board of Directors
MEXICO CITY, November 28, 2022 /PRNewswire/ — Genomma Lab International, SAB de CV (BMV: LABB) (“Genomma Lab” or “the Company”), one of the leading pharmaceutical and personal care companies in Mexico with an expanding international presence, announces a leadership succession plan that positions the company to continue to drive profitable growth and deliver on the company’s vision, as CEO Jorge Brake informed the Board of his intention to transition from the role of CEO while maintaining an active involvement in the future of the Company. Mr. Brake will be appointed as an active vice-chairman of the board of directors, subject to the approval of Genomma’s next annual general meeting of shareholders to be held in April 2023.
In accordance with the Corporation’s management succession plan, Mr. Rodrigue Herrerathe Chairman of the Board informs that Marco Sparviericurrently Chief Operating Officer of Genomma Lab, will succeed Jorge Brake as general manager. Genomma’s succession plan ensures a six months transition period during which Mr. Brake and Mr. Sparvieri will work closely together.
Mr. Brake, in his continuing role as an active Vice President, will remain actively involved in the strategic direction of the company, external corporate relations, investor relations, new business opportunities and expansion, as well as the next phase of Genomma’s organizational transformation with significant related oversight. and participating in shaping the future direction of the Society. Additionally, he will continue to be involved in mentoring and advising Genomma’s operating executives as they grow within the company. He will also actively participate in relevant corporate decisions as a member of several executive committees that have been approved by the Board of Directors as part of Genomma’s renewed governance model.
“It has been an amazing experience leading Genomma’s turnaround over the past four years and working with our exceptional people to transform Genomma’s organization, strengthen our culture through an evolution of growth mindset and position the company for even higher levels of growth and success. With a solid foundation and a clear trajectory in place, now is the time to implement our succession plan,” said Mr. Brake. “During Marco Sparvieri’s eight years at Genomma, he demonstrated excellence in leadership and a strong track record of delivering results through exceptional execution of the company’s strategy. company. His passion for innovation and teamwork are evident in our many accomplishments. The Board and I are confident that Marco is the right person to take on the role of Genomma’s next CEO and continue to accelerate our momentum.”
Following Brake’s appointment as CEO in 2018, he set in motion a profound strategic and cultural transformation anchored on shifting to a growth mindset while leveraging Genomma’s talent to drive growth by as a cohesive team. His leadership has been a critical factor in bringing Genomma to major milestones and in the company’s successful turnaround as a renewed multinational company that is today well positioned to take advantage of significant opportunities in its next phase of evolution. . Additionally, Brake has personally championed Genomma’s significant ESG progress, including the company’s 2025 sustainability vision and commitments.
Marco Sparvieri is a proven and seasoned business leader with an excellent skills base and deep understanding of the company and its brands, who has developed a strong long-term relationship with our customers and suppliers. All of this ensures his success in his new role as CEO. He began his tenure at Genomma by initiating a period of transformation during which he led the development of new business and supply chain models, enabling the company to expand its geographic and multi-channel presence while integrating new products in its portfolio.
As Chief Operating Officer, Mr. Sparvieri was instrumental in the next phase of Genomma’s transformation period in 2018 and played a key role in directing the company’s strategy in the areas of innovation, go-to-market, supply chain and organization/people development over the period. last four years. During this period, its role and responsibilities have steadily expanded behind a well-designed development plan.
Mr. Sparvieri joined Genomma Lab in 2014 after a successful 20-year career at Procter & Gamble, working across multiple geographies and roles. He holds a degree in industrial engineering from the University of Buenos Aires, Argentina and participated in several executive programs with top business education institutions.
About Genomma Lab International
Genomma Lab Internacional, SAB de CV is one of the fastest growing pharmaceutical and personal care companies in the Latin America with an expanding international presence. Genomma Lab develops, sells and markets a wide range of premium branded products, many of which are leaders in the categories in which they compete in terms of sales and market share. The Company has a strong business model through a unique combination of new product development process, consumer-focused marketing, extensive retail distribution network and operating model. low-cost and highly flexible supply chain. For more information visit: www.genommalab.com
Genomma Lab shares are listed on the Mexican Stock Exchange under the symbol “LABB” (Bloomberg: LABB: MM).
Note on forward-looking statements
This report may contain certain forward-looking statements and information relating to the Company that reflect the current beliefs and/or expectations of the Company and its management regarding its performance, business and future events. Forward-looking statements include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “believe”, “anticipate”, “will expect”, “intend”, “will likely result”, or any other word or phrase of similar meaning. These statements are subject to a number of risks, uncertainties and assumptions. We caution you that a certain number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Risks and uncertainties include, but are not limited to: risks relating to the impact of the global pandemic the of COVID-19, such as the extent and duration of the outbreak, government actions and restrictive measures implemented in response, significant delays, supply chain disruptions and other impacts on the business or the Company’s ability to execute business continuity plans as a result of the COVID-19 pandemic, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products obtained by competitors; challenges inherent in developing new products; the Company’s ability to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, either internally or within the supply chain; material adverse litigation or governmental action, including related to product liability claims; changes in applicable laws and regulations, including tax laws; changes in behavior and spending patterns of buyers of products and services; financial instability of international economies and legal systems and sovereign risk. A list and additional descriptions of such risks, uncertainties and other factors are contained in the Company’s filings with Bolsa Mexicana de Valores. Any forward-looking statements made in this release speak only as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Genomma Lab International, SAB de CV
