Betterware de México Appoints Mari Loli Sánchez Cano as Independent Director to Its Board
GUADALAJARA, Mexico, June 6, 2023 /PRNewswire/ -- Betterware de México, S.A.P.I. de C.V. (Nasdaq: BWMX) ("Betterware" or "The Company") announced that Mrs. Mari Loli Sánchez Cano has been appointed as Independent Director to the Company's Board, effective May 15, 2023. Following Mrs. Sánchez Cano appointment, the Board will include 11 members possessing a broad range of experience and capabilities from finance and strategy, to digital and marketing. Eight of the eleven Board members are Independent Directors.
Luis G. Campos, Executive Chairman of the Board, stated, "We are very pleased to welcome Mari Loli to our Board. She is a proven leader with over 32 years of experience within Jafra and 16 as Jafra's CEO. We look forward to benefitting from Mari Loli's expertise in business and market development. She has exceptional strategic capabilities; her experience is expected to be highly valuable to Betterware Group."
Mrs. Mari Loli has extensive experience in the media and the direct selling industry. She joined Jafra Mexico in 1991 as a sales trainee. Before assuming the Presidency of the Company in 2007, she held management and executive positions in the sales and communication departments. In 2017, she received the recognition "The Most Trusted CEO" from the Great Place to Work organization in the category of 500 to 5 thousand employees of multinational companies, in recognition of his conviction to make diversity, inclusion, and empowerment the strategic axes of Jafra. Mari Loli has a B.A. in Communication from the Universidad Iberoamericana.
Founded in 1995, Betterware de México is the leading direct-to-consumer company in Mexico focused on offering innovative products that solve specific needs regarding organization, practicality, space saving and hygiene within the household. With the acquisition of JAFRA on April 7, 2022, the Company now offers a leading brand of Direct Selling in the Beauty and Personal Care products industry in Mexico and the United States where it offers Fragrances, Color & Cosmetics, Skin Care and Toiletries. The combined company possesses an asset-light business model with low capital expenditure requirements and a track record of strong profitability, double digit rates of revenue growth and free cash flow generation. Today, the Company distributes its products in Mexico and Guatemala, and with its recent acquisition, it now has gained presence in the United States through JAFRA's portfolio of products.
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SOURCE Betterware de México, S.A.P.I. de C.V.
Released June 6, 2023