Board of Directors

Non-Executive Chairman 
Chairman, Nominations Committee
Member, Remuneration Committee

Mr Baillères has been on the board of Industrias Peñoles since 1962 and has served as Chairman since 1967. He holds extensive experience and knowledge of both the Group and the Mexican markets in which it operates and has overseen the development of both the Fresnillo Group and its associated companies that provide essential services to the Group from both the investor and the supervisory perspectives.

The Baillères family first acquired an interest in Peñoles in 1962 and Mr Baillères is currently the controlling shareholder. In addition to Peñoles, as part of the BAL group of companies, Mr Baillères has interests in Grupo Palacio de Hierro, a chain of department stores mainly located in Mexico City, Grupo Nacional Provincial, a leading Mexican insurance company, Grupo Profuturo, a pensions and annuities business, and other businesses relating to financial services and agriculture.

Mr Baillères became non-independent Non-executive Chairman on 15 April 2008. Mr Baillères holds numerous other board appointments, being the Chairman of the Board of Directors of Grupo Nacional Provincial, Grupo Profuturo, Valores Mexicanos Casa de Bolsa, Crédito Afianzador, Grupo Palacio de Hierro, and a member of the Board of Fomento Económico Mexicano (FEMSA), a leading international beverage producer and distributor, Grupo Televisa, Grupo Kuo/Dine and BBVA Bancomer. Mr. Baillères is also currently President of Grupo BAL and President of the Board of Trustees of Asociación Mexicana de Cultura, A.C. and Instituto Tecnológico Autónomo de Mexico (ITAM). In addition, Mr Baillères is a member of the Consejo Mexicano de Hombres de Negocios and also of Fundación para las Letras Mexicanas, A.C.

Non-Executive Director 

Mr Lomelín spent 36 years at Peñoles where he served as Group Vice President of the metals and chemicals division for four years and subsequently held the position as CEO for 21 years. He brings to the board an invaluable wealth of senior operational experience in the fields of mining and engineering.

Mr Lomelín was appointed to the Board on 15 April 2008. Mr Lomelín holds a Bachelor of Science degree in chemical engineering from the Universidad Nacional Autónoma de Mexico (UNAM) and undertook business administration studies at the University of Wisconsin (1958-1959) as well as the AD2 program at the Instituto Panamericano de Alta Dirección de Empresas (IPADE) in 1975 and also the Stanford Executive Program at Stanford University (1984).

Mr Lomelín is a member of the Board of Trustees of ITAM and an alternate director of Palacio de Hierro, Grupo Nacional Provincial, Valores Mexicanos Casa de Bolsa and is also Chairman of the Board of Trustees of the Chemistry School at the Universidad Nacional Autónoma de México (UNAM) as well as a member of the Fundación UNAM. Mr Lomelín is a director of the non-profit organisations, INNOVEC, (which promotes the teaching of science), the Mexican Mining Chamber and the Council of Economic Development of the State of Zacatecas.

Mr Baillères has been Chief Executive Officer of Grupo Nacional Provincial, a leading insurance company in Mexico. He is also a director of several companies within Grupo BAL, including Industrias Peñoles S.A.B. de C.V., the controlling shareholder in Fresnillo. Mr Baillères is also an alternate director of Coca-Cola FEMSA, the largest beverage company in Mexico and serves of the Board of Trustees of ITAM.

Senior Independent Non-Executive Director
Chairman, Remuneration Committee

Lord Cairns brings a macro-economic perspective to the Board's discussions which is supplemented by his career as an investment banker in London. He is able to provide an informed view of institutional investor attitudes and issues. His wide international experience and connections enable him to contribute a supra-governmental view to the Board's discussions.

Lord Cairns was appointed to the Board on 15 April 2008. Lord Cairns graduated from Trinity College, Cambridge. Following a career with SG Warburg where he had been Deputy Chairman and CEO, he held a number of positions, including as Chairman of BAT plc and Chairman of Allied Zurich. Subsequently, he has served as Chairman of the Charities Aid Foundation, Zain Africa B.V. (formerly Celtel International B.V.), Actis LLP and CDC Group.

Lord Cairns is currently a board member of the Mo Ibrahim Foundation and acts in an advisory capacity to Satya Capital (an African venture capital house).

Non-Executive Director

Mr Fernández' economics background, as well as his experience and connections with the Mexican public policy arena is coupled with plural external directorships across a number of sectors to provide the Board with commercial input and the macro-economic perspective. 

Mr Fernández was appointed to the Board on 15 April 2008. Mr Fernández holds a bachelor of economics from ITAM as well as a PhD in economics from the University of Chicago. He has previously served as head of the tax policy office at the Mexican Ministry of Finance and as head of the economic deregulation office at the Mexican Ministry of Trade. Mr Fernández has been the rector of ITAM, an independent not-for-profit higher education institution for 20 years.

Mr Fernández is a member of both the Board of Directors and the Executive Committee of Industrias Peñoles, Grupo Nacional Provincial, Grupo Profuturo, Group Palacio de Hierro, Valores Mexicanos Casa de Bolsa and Crédito Afianzador. He is also a member of the Board of Directors of Grupo Bimbo, Minera Penmont, Química del Rey and Tecnología del Agua (TECSA) and an alternate director of FEMSA and BBvA Bancomer.

Non-Executive Director
Member, Audit, Remuneration and Nominations Committees

Before joining Fresnillo plc, Mr Ruiz was managing partner of Chevez, Ruiz, Zamarripa y Cia., S.C., tax advisers and consultants. He contributes to the Board and Audit Committee proceedings through experience of audit and international accounting frameworks and a specialist knowledge of Mexican tax. 

Mr Ruiz was appointed to the Board on 15 April 2008.

Mr Ruiz graduated from the Universidad Nacional Autónoma de Mexico (UNAM) with a degree in public accounting. He is a member of the Asociación Mexicana de Contadores Públicos and currently Chairman of the tax committee of the Consejo Mexicano de Hombres de Negocios.

Mr Ruiz holds numerous board appointments, including Kimberly Clark de Mexico, Mexichem, Grupo Cementos de Chihuahua, Grupo Mexico, Grupo ICA and the Mexican Stock Exchange.

Non-Executive Director
Member, Audit Committee

Mr Solana's extensive experience and connections within the political, banking and diplomatic arenas enables him to contribute to these aspects of strategic analysis at Board level. He is able to provide insight into the domestic political and regulatory framework within Mexico.

Mr Solana was appointed to the Board on 18 February 2009. Mr Solana studied civil engineering, philosophy, public policy and administration at the National University of Mexico. He has served in the Mexican government as Minister of Trade (1976-1977), Minister of Education (1977-1982) and Minister of Foreign Affairs (1988-1993), and as a senator in the Parliament (1994-2000). Mr Solana was President and CEO of Banco Nacional de México (1982-1988), and served as Chairman of the Mexican Banking Association (1986-1987).

He is currently President of Solana Consultores and Chairman of the Mexican Fund for Education and Development. He is also an associate consultant of Analítica Consultores Asociados as well as a member of the Boards of the Euroamerica Foundation in Madrid and the Institute of the Americas at the University of California in San Diego. He is a member of the Advisory Board of the Latin American Parliament. He is also a member of the boards of several companies as well as philanthropic and cultural organisations.

Non-Executive Director
Chairman, Audit Committee

Mr Wilson's distinguished career within a global audit firm and his experience of capital transactions and corporate actions provide the Board with an important international audit and accountancy perspective; invaluable in the strategic assessment of capital opportunities, and the wider fulfillment of Audit Committee duties, including the interaction with the financial reporting and audit processes.

Mr Wilson was appointed to the Board on 1 July 2008.

Mr Wilson joined the Board following his retirement from Ernst & Young LLP, where he was employed from 1967, becoming a partner in 1979. From 1972, he specialised in corporate transactions covering IPOs, public fund raising, acquisitions, disposals and defences against hostile bids. From 1989 to 1991, he was seconded to HM Treasury to assist with the privatisations of the UK water and electricity industries and Scottish electricity. From 2000 until joining Fresnillo plc, Mr Wilson primarily, but not exclusively, concentrated on transactions in the financial services sector.

Non-Executive Director
Member, Nominations and HSECR Committees

Through his wide-ranging commercial experience, both at a Mexican and International level and across a variety of industrial and services sectors, Mr Fernández contributes a deep and independent business perspective to the Board's discussions.

Mr Fernández was appointed to the Board on 15 April 2008. Mr Fernández has a degree in Mechanical and Electrical engineering from the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) and an MBA from Harvard Business School.

Mr Fernández has held senior executive positions at leading Mexican companies, including 14 years of experience in financial services. He joined Grupo BBVA Bancomer, Mexico’s largest financial services company in 1991 as Executive Vice President Strategic Planning and successively served as Deputy President for Systems and Operations and Chief Information Officer, Deputy President and Chief Financial Officer, and in 1999 was named President. Mr Fernández has been engaged as a consultant for public and private investment transactions and has been an active wealth management advisor since 2002. Since March 2007, Mr Fernández has been Chairman of the Board of Primero Fianzas, a private Mexican surety company.

He is a member of the Board of Directors of the following publicly listed companies; FEMSA, a leading Latin American beverage company; CEMEX, a multinational building materials and cement manufacturer based in Mexico; VISA, the world’s largest electronic payment network and ALFA, a Mexican conglomerate with interests in petrochemicals, telecommunications, autoparts and processed foods.

Non-Executive Director

Mr Bordes brings to the Board practical and extensive cross-sector business experience, including within financial services. His involvement with the wider BAL-Group helps supplement his external context, bringing group perspective to bear in the Baord process.

Mr Bordes was appointed to the Board on 11 January 2008.

Mr Bordes holds a Bachelor of Science degree in chemical engineering from Universidad Nacional Autónoma de Mexico (UNAM) and attended the Stanford Executive Program at Stanford University. He also attended the Business Management Course at the Instituto Panamericano de Alta Dirección de Empresas (IPADE).

Mr Bordes has been corporate director in Técnica Administrativa BAL since 1979. He was the CEO of Artes Gráficas Unidas from 1984-1986 and CEO of Fábricas de Papel Loreto y Peña Pobre from 1986-1989.

Since 1989, Mr Bordes has been a member of both the Board of Directors and the Executive Committee of Industrias Peñoles, Grupo Nacional Provincial, Grupo Palacio de Hierro, Grupo Profuturo, Valores Mexicanos Casa de Bolsa, Crédito Afianzador, Profuturo GNP Afore, Profuturo GNP Pensiones, Médica Integral, Bal-Ondeo, Albacor and a member of the Board of Trustees of ITAM.

Ms Aramburuzabala is currently Vice Chairman of Grupo Modelo, one of Mexico's largest breweries. She also serves on the boards of several companies in Mexico including Grupo Aeroméxico, Grupo Financiero Banamex, Banco Nacional de México, Tresalia Capital and KIO Networks. Her prior directorships include Grupo Televisa, Empresas ICA and América Móvil. She was educated at the Instituto Tecnológico Autónomo de Mexico (ITAM).

Non-Executive Director
Chairman, HSECR Committee

Mr MacGregor has a wide-ranging commercial experience across a number of sectors, including institutional financial services and the Mexican Stock Exchange. His knowledge of the external investment perspective, coupled with his wider BAL-Group involvement provides an invaluable contribution to the Board's strategic process.

Mr MacGregor was appointed to the Board on 11 January 2008.

Mr MacGregor holds a bachelor of science in business administration from ITAM and attended the Stanford Executive Program at Stanford University.

Previous positions held by Mr MacGregor include CEO of Valores Mexicanos Casa de Bolsa (1994-1999); various positions, including corporate director, managing director and vice president of mutual funds at Grupo Financiero Inverlat (1985-1994), manager of investment strategies of Operadora de Bolsa, and investment assistant at Casa de Bolsa Banamex (1982-1983). Since 1999, Mr MacGregor has been a member of the Board of the Mexican Stock Exchange and is a former Vice Chairman of Mercado Mexicano de Derivados (MexDer).

Mr MacGregor is the Chairman of Valores Mexicanos Casa de Bolsa, and member of the Board of Directors and the Executive Committee of Industrias Peñoles, Grupo Nacional Provincial, Grupo Palacio de Hierro, Grupo Profuturo, Crédito Afianzador, Mercardo Mexicano de Derivados Bal-Ondeo. He is also a member of the Board of Trustees of ITAM.