Last updated: 19:11 / Monday, 1 July 2013
By July 1st

Oscar Franco Steps Down as Amafore President

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Oscar Franco Steps Down as Amafore President

After five years at the helm of Amafore (the Mexican Association of Afores or pension funds) Oscar Franco, decided to step down from his post. The new CEO will be announced in due course, as the association said through a statement.

Amafore’s board of directors, consisting of all the CEOs of member companies, announced on Thursday that, starting next July 1st, the Amafore Executive Committee shall be temporarily in charge of the association’s presidency, replacing Franco, who resigned from the post to pursue "new personal projects".

Tonatiuh Rodriguez, vice president and spokesman for the organization pointed out “Franco’s outstanding performance during the five years he spent as head of the Association. His commitment and professionalism were fundamental for the cohesion and unity of the sector and for the development of major initiatives, including the promotion of financial literacy for the benefit of millions of workers”.

Rodriguez added that the new CEO will be appointed shortly. “We are looking at various options and shall base our decision on the candidate who best meets the expectations of the members, especially as regards facing the enormous challenges in the coming years. For now, the Vice-Chairmen shall take over the interim management to ensure continuity of the programs and activities already underway,” he explained.

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