Gruma's Finance Director Raul Cavazos Named Mexico CFO of the Year by Latin Trade
Gruma has maintained an exceptional environment for its shareholders and initiated a process of debt reduction and optimization of its financing sources
MONTERREY, Mexico, Sept. 8, 2015 /PRNewswire/ -- Latin Trade Group has named Raul Cavazos Morales, Corporate Director of Finance and Strategic Planning at Gruma, the recipient of the CFO award for the year 2015. The executive received the honor during the Latin Trade CFO Monterrey forum, held Thursday, September 3, at the hotel Safi Valle.
Under the financial guidance of Cavazos Morales, Grupo Maseca (Gruma) has maintained its position as a top-performing stock on the Mexican Stock Exchange (BMV) for three years in a row. The strategy of the Monterrey native CFO has substantially driven Gruma's profitability while greatly reducing its debt: the debt-to-EBITDA ratio dropped from 2.6 in 2013 to 1.4 in 2014.
"This is such a gratifying experience as it represents the culmination of all of the effort we have been putting forward. I accept this award on behalf of so many individuals. The credit goes to our President and CEO Juan Gonzalez Moreno and to my team, everyone in the company, because all of us at Gruma are on board in assuring that our objectives are accomplished," said Cavazos during the award ceremony.
Latin Trade recognized the role that Cavazos Morales has played in Gruma's consolidation during the past few years, during which the multinational has also sold stock and issued bonds in order to optimize the company's finances.
The 55-year old Cavazos Morales, who became Gruma's finance director at the end of 2012, has put in a solid 28 years with the company in such positions as treasury corporate deputy director, corporate finance manager and head of banking relations.
Prior to joining Gruma, he was divisional treasurer and director of cash administration at Grupo Protexa, made up of companies in the oil drilling, petroleum plant construction and air services industries.
The Latin Trade forums for CFOs are private events providing finance directors, treasurers and comptrollers of various Latin American industries the opportunity to participate in discussion panels with senior-level peers and interact within a private environment. The event offers technical expertise to CFOs in preparation for local and international challenges.
Since 2005, the Latin Trade CFO events promote a higher level of debate and interaction among senior executives on trends, challenges and solutions through regional events in Miami as well as local chapters in the key Latin American cities of Monterrey, Mexico City, Bogota, Lima, Sao Paulo and Buenos Aires. The sponsors of the event are Bank of America Merrill Lynch and Oracle.
About Latin Trade Group
Latin Trade Group is a leading provider of information and business services to companies operating in Latin America. It publishes award-winning content in Spanish and English for distribution throughout Latin America, the Caribbean and the United States through print and online media and events.
Latin Trade Group publishes Latin Trade magazine, as well as digital content through its LatinTrade.com. It also hosts the Latin Trade Symposium and BRAVO Business Awards, as well as the Latin Trade Series for CFOs for financial executives of multinational corporations. For more information, visit: http://latintrade.com/communities/canal-cfo
Media Contacts:
David Buchanan
Assistant Editor
LatinTrade.com
[email protected]
SOURCE Latin Trade Group
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