Liverpool Mexico, a prominent department store chain, operates under a structured governance framework. Understanding the composition and responsibilities of its board of directors and committees is crucial for stakeholders. This article delves into the structure and membership of Liverpool Mexico’s governing bodies, shedding light on its corporate leadership.
Board Structure: A One-Tier System
Liverpool Mexico employs a one-tier board system, comprising Patrimony Board Members, Independent Board Members, and Audit Committee Members. This system integrates executive and non-executive directors, fostering collaboration and oversight within a single body.
Executive Directors
Executive directors hold high-ranking positions within Liverpool Mexico, playing a pivotal role in strategic decision-making and day-to-day operations. Their expertise and experience contribute to the company’s overall management.
Independent Directors
Independent directors are non-executive members who provide objective oversight and ensure accountability. Their independence is crucial for maintaining transparency and avoiding conflicts of interest. Liverpool Mexico’s definition of an independent director specifically excludes individuals with recent executive roles, significant influence within the company or its affiliates, major shareholders, and those with close relationships to key stakeholders.
Other Non-Executive Directors
This category encompasses board members who are neither executive nor independent. They might hold non-executive roles within the organization or be affiliated in other ways.
The Role of the Secretary
The board secretary plays a vital administrative and advisory role. Ignacio Pesqueira, Partner at Galicia Abogados, S.C., serves as the Secretary, while Norberto Aranzábal, Partner at Aranzábal Rivera Abogados, S.C., acts as the Deputy Secretary. The consistent 88% board attendance rate in 2023 underscores the directors’ commitment to their responsibilities.
Audit Committee
The Audit Committee provides independent oversight of Liverpool Mexico’s financial reporting and internal control systems. Its members bring extensive experience and expertise to ensure financial transparency and accountability. The committee is chaired by Javier Arrigunaga, Chairman at Aeroméxico, S.A.B. de C.V. with 4 years of service. Other members include José Cohen Sitton, Deputy General Manager at BabyCreysi (3 years), and Juan Miguel Gandoulf, Director at Sagnes Constructores, S.A. de C.V. (25 years).
Patrimony Board
The Patrimony Board, led by Chairman Henry Brémond P., oversees Liverpool Mexico’s overall strategic direction and asset management. Members include Juan David, Miguel Guichard, and Magdalena Michel. Alternate board members are also designated to ensure continuity and representation, including Madeleine Brémond, Monique David, Magdalena Guichard, and Bertha Michel. Alejandro Duclaud serves as the Secretary for the Patrimony Board.
Honorary Board Members
Liverpool Mexico also recognizes the contributions of its Honorary Board Members, a distinguished group of individuals who provide guidance and insights based on their vast experience. This board is chaired by Henry Brémond P. and includes prominent figures such as José Calderón, Ricardo Guajardo, Miguel Guichard, Esteban Malpica, Jorge Salgado, Luis Tamés, Pedro Velasco, Graciano Guichard M., and Max David.
Conclusion
Liverpool Mexico’s governance structure reflects a commitment to transparency, accountability, and effective leadership. The diverse expertise and experience within its board of directors and committees contribute to the company’s continued success in the Mexican retail market. The clearly defined roles and responsibilities of each body ensure a robust framework for strategic decision-making and oversight.
