CEO of embattled Mexican builder ICA quits - sources
Mexico City
ALONSO Quintana Kawage, chief executive of Mexico's cash-strapped construction company ICA, is leaving his post, two sources familiar with the matter said, as the company struggles to renegotiate its multi-billion dollar debt load.
The move is part of a wider restructuring aimed at regaining investor confidence after the company's steep slump into debt and a cash crunch under Mr Quintana, the grandson of ICA's founder and who became CEO in 2012.
Both sources said that veteran company executive Luis Zarate would now be appointed CEO, while one of the sources said that current co-chief executive Alfonso …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Apple to invest US$250 million into expanding Ang Mo Kio campus
High Court dismisses China businessman’s claims against Huttons and agent in misrepresentation suit
URA awards Zion Road, Upper Thomson sites to sole bidders at lower-than-expected offers
DFI puts its last 2 Singapore properties up for sale at S$48.5 million
Delfi Orchard up for collective sale at S$438 million guide price
US 30-year mortgage rate rises to a four-month high of 7.13%