GRUPO FINANCIERO BANORTE ANNOUNCES UPCOMING BOARD OF DIRECTORS MEETING
Nov 14, 2014
OTC Disclosure News Service
Grupo Financiero Banorte, S.A.B. de C.V. (“GFNORTE”) (BMV: GFNORTEO), informs that an extraordinary meeting of the Board of Directors will be held on November 20, 2014. As is GFNORTE’s practice, any material outcomes will be communicated to the market.
Regarding the information recently published in the media on matters related to Corporate Governance, GFNORTE informs the investment public that any change to the Board of Directors or to Senior Management, if they were to happen, will be informed to the investment public through the communication channels established by the National Banking and Securities Commission and the Mexican Stock Exchange, observing at all times external regulations and the Institution’s corporate practices. The ratification or replacement of any member of the Board of Directors is proposed by the Designation Committee, which is the institutional channel established for such purposes, and is voted in the Shareholders’ Assembly. Furthermore, changes to Senior Management are approved by the Board of Directors hearing the opinion of the Audit Corporate Practices Committee.
GFNORTE is an institution with solid Corporate Governance bodies and practices, which adhere to the provisions of the Law Regulating Financial Groups and the Securities Market Law, among other legal provisions, as well as to international best corporate practices. The resolutions adopted by the Board of Directors which are proposed to the Shareholders’ Meeting have always sought the protection of minority shareholders’ rights and institutional strengthening. Strategic decisions and relevant resolutions of the Financial Group are reviewed and decided within the Shareholders’ Meeting, in which there is broad representation of all minority shareholders of the Financial Group. On the other hand, Financial Group’s Management is characterized by its adherence to the resolutions of the Board of Directors and Shareholders’ Meetings, as well as its commitment to generate value for its shareholders and clients, create a reliable source of employment for all its employees, and work at all times with the authorities regulating the institution and its subsidiaries
GFNORTE reiterates to the investment public that it will to continue adopting the best international corporate practices regarding Corporate Governance and information disclosure. The Financial Group expects to maintain its strategic and expansion plans to consolidate a leading institution in Mexico; in this sense, we will timely inform the investment community regarding the strategy execution and evolution of our operations. The Finance and Investor Relations Department is available for any inquiry or comment regarding this material event at: or at the number (55) 18.104.22.168.
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Material Event-14nov14 (F).pdf
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