Board of Directors
Alejandro Baillères
Chairman
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Date of appointment: 16 April 2012
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Committee: Nominations (Chairman) and Remuneration Committee Member
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Key strengths: Insurance and related financial services in Mexico, Broad board-level commercial experience in Mexico
As Chairman of Grupo BAL and former Chief Executive Officer of Grupo Nacional Provincial (a leading insurance company in Mexico), Mr Baillères brings knowledge and experience of Mexican and international business to his role.
Executive Management and Executive Committee
Octavio Alvídrez
Chief Executive Officer
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Date of appointment: 15 August 2012
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Committee: Invited to attend Board, Audit, HSECR and Remuneration Committees
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Key strengths and experience: Mine management within Mexico, UK investor relations and Group Treasurer
Mr Alvídrez has extensive experience within the mining industry having previously held the position of General Manager of the Madero mine, one of Mexico’s largest mines operated by Peñoles. Mr Alvídrez joined the Peñoles Group in August 1988, since then he has held a number of senior operational and financial positions across Peñoles and Fresnillo.
Mr Alvídrez holds a bachelor's degree in mining engineering from the University of Guanajuato and received his MBA from the Wharton School of Business of the University of Pennsylvania.
Mr Alvídrez is a former director of the Lowell Institute for Mineral Resources of the University of Arizona. Mr Alvídrez continues being a Board member, and was previous President, of The Silver Institute. He is a member of the Mexican Mining Chamber and a Vice-president of the Advisory Board of the School of Mines of the University of Guanajuato, Mexico.
Committees Overview
Alberto Tiburcio
Audit Committee Chairman
Responsible for evaluating the Group's financial reporting and making recommendations to the Board in respect of the approval of reports prior to release. Monitors, on behalf of the Board, the Group's risk management and internal control systems, as well as the activity of the Honour Commission in overseeing Whistleblowing procedures. Internal Audit report on their programme and activity at each meeting. Also monitors role of external auditor, including any non-audit service.
Shareholder Relations
The Board seeks to ensure that the interests of minority shareholders in Fresnillo plc are properly respected and aligned with those of major shareholders.
The Company has an office in London where the Head of Investor Relations is based. The Group has implemented a strong investor relations programme and aims to meet major shareholders and analysts at least twice a year to discuss the results of the Group and to respond to any queries the shareholders may have.
The Head of Investor Relations in London maintains ongoing relations with analysts and major shareholders through telephone calls and meetings. The Company also uses a full programme of mining conferences to meet with current and prospective investors. Contact with investors in Mexico is maintained through the Investor Relations Office in Mexico City. The Chief Executive Officer and Chief Financial Officer participate in major roadshows to meet with analysts and shareholders. The Head of Investor Relations, supported by the Chief Executive Officer, gives a report at each Board meeting on communications and shareholder activity.
Annual Report
Throughout our history, Fresnillo plc has proudly built a track record of managing the setbacks associated with mining and weathering storms not of our own making.
