Empresas ICA, S.A.B. de C.V. announced that the Board of Directors approved changes in ICA's management team at its meeting on Dec. 17, 2015. Board member Alfonso González Migoya has been appointed co-Chief Executive Officer, alongside Alonso Quintana.

Orlando Loera has been appointed Chief Restructuring Officer (CRO) to direct ICA's restructuring initiatives. Pablo Garcia has been appointed Chief Financial Officer, replacing Gabriel de la Concha, who resigned in order to pursue other business opportunities. Gabriel de la Concha will support the company in carrying out the transition.

Messrs. González and Loera will be responsible for carrying out the operational and financial restructuring of the company, at the same time that co-CEO Alonso Quintana leads ICA's operations as it continues to develop the company's ongoing businesses. Alfonso González Migoya, ICA's new co-CEO, was appointed to ICA's Board in November and is also non-executive Chairman of Volaris.

From 2009 to 2014 he was Chairman and CEO of Grupo Industrial Saltillo. Orlando Loera was Chief Restructuring Officer for Mexican homebuilder Casas Geo from 2013 to 2015. He had a 39-year career with Bank of America Merrill Lynch (BAML) and retired as Chief Risk Officer for Latin America.

Pablo Garcia has been the Finance Director for ICA's infrastructure division since 2012. Prior to joining ICA, he was Managing Director and head of Project Finance for Latin America at Scotiabank. The company also announced that, effective Dec.

18, 2015, Fernando Flores y Perez has resigned as a member of the board of directors in order to focus on other business endeavors.