LQU Quilmes Industrial S.A. Quinsa Appoints New Chief Financial Officer.LUXEMBOURG--(BUSINESS WIRE)--July 8, 1999--Quilmes Industrial S.A. (Quinsa) (NYSE NYSE See: New York Stock Exchange :LQU) ("Quinsa" or the "Company") today announced that it has appointed Carlos A. Olivieri as its new Chief Financial Officer and as a member of the Board of Management, succeeding Gerardo F. Barretto who has resigned from those positions, after 28 years with Quinsa, to pursue other business interests. The Company has also named Nestor del Campo General Manager, Argentina Beverages Division and has also appointed him to the Board of Management, expanding the Board of Management to five members. Mr. Olivieri, 49, has had an extensive career in finance, administration and accounting. He most recently served as Vice President - Finance and Control for YPF YPF Yacimientos Petrolíferos Fiscales (Argentina) YPF Esquimalt, British Columbia, Canada (Airport Code) YPF Young Peoples Fellowship S.A., where he reported directly to the Chief Executive Officer. He also has served as a Vice President for YPF International Ltd. and YPF Gas S.A. Prior to joining YPF S.A., Mr. Olivieri served as the Administrative Director for Aerolineas Argentinas, a Director of Banco Central de la Republica Argentina and as a Manager for Arthur Andersen For the U.S. Supreme Court case commonly known as Arthur Andersen, see . Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms (the other four are PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG), performing & Co. He is a Certified Public Accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. and has received graduate degrees from the University of Columbia and the University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. . Agustin Garcia Mansilla, Chief Executive Officer of Quilmes Industrial S.A. (Quinsa), stated: "We are pleased to welcome Carlos A. Olivieri to Quinsa. We are convinced that Carlos' domestic and international experience, along with his energy and intelligence make him a perfect addition to our top management team as we prepare ourselves for our next phase of growth." Mr. Olivieri replaces Gerardo F. Barretto as Chief Financial Officer. Commenting on Mr. Barretto's departure Mr. Garcia Mansilla stated: "Gerardo F. Barretto has been an instrumental member of the management of the Company for many years. We wish to express our gratitude to Gerardo for his 28 years of leadership, integrity and selfless commitment to the interests of Quinsa. We wish him all the best in his future endeavors." Mr. del Campo, 35, who most recently was Manager Sales & Marketing, Argentina Beverages Division, has been named General Manager, Argentina Beverages Division and has been appointed to the Board of Management, expanding the Board of Management to five members. He joins Agustin Garcia Mansilla, Chief Executive Officer, Carlos A. Olivieri, Chief Financial Officer, Carlos Adjoyan, Director, Human Resources, and Richard Oxenford, Director, Marketing and International Beverages Division as a member of the Board of Management. Mr. Garcia Mansilla stated: "Nestor del Campo has become a valuable member of the management team of Quinsa over the last six years and we are pleased to have him take on the role of General Manager, Argentina Beverages Division and join the Board of Management. We look forward to his continued contribution to the management of Quinsa in his expanded roles." ABOUT QUINSA Quinsa is a Luxembourg-based holding company, which controls 85 percent of Quilmes International (Bermuda) Ltd., ("QIB QIB Qualified Institutional Buyer "). The remaining 15 percent share is owned, since 1984, by Heineken International Beheer B.V. ("Heineken"). Heineken Technical Services B.V. renders technical assistance to the operating companies. Quinsa, through QIB, controls beverage and malting businesses in five Latin American countries. Its beer brands are market leaders in Argentina, Paraguay and Uruguay and have a strong presence in Bolivia and Chile. In Paraguay, Quinsa's soft drink business is the market leader. Quinsa's common and preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. are listed on the Luxembourg Stock Exchange The Luxembourg Stock Exchange (French: Bourse de Luxembourg) is a stock exchange based in Luxembourg City, in southern Luxembourg. (Reuters codes: QUIN QUIN - Pyle 1965. Interactive language. Sammet 1969, p.691. .LU and QUINp.LU). Quinsa's American Depository Shares, representing the Company's preferred shares, are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE:LQU). Quinsa's web address: www.Quinsa.com |
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