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Grupo Elektra names new CEO

Latin America’s financial services company Grupo Elektra has named Mario Rincon as its new chief executive officer (CEO), in a bid to add dynamism to robust growth.

The company’s subsidiary Banco Azteca also appointed Luis Nino de Rivera as its new CEO.

Prior to accepting the current role, Rincon has held executive positions that include director of financial services, director of distribution, chief sales development officer, and executive director during the past ten years in Grupo Elektra.

He has also significantly contributed in growth of sales of products on credit during the last few years, and the expansion of numerous product lines.

Having 39 years of financial sector expertise, Luis Nino de Rivera has been serving as vice president of the board of Banco Azteca since the launch of its operations in 2002.

Before Banco Azteca, Nino de Rivera has served as CEO of Dresdner Bank Mexico, vice president of Citibank Mexico, and CEO of Citibank Panama, among others.

Grupo Elektra and Banco Azteca CEO Carlos Septien will carry out responsibilities as part of the Vice Presidency for Information and Public Issues of Grupo Salinas, while Alejandro Vargas Duran, CPA will act as vice chairman of the board of Banco Azteca.

More than 6,000 points of sale are managed by Grupo Elektra in Mexico, the US, Brazil, Guatemala, Honduras, Peru, Panama, El Salvador and Argentina.