August 3, 2018 / 1:20 AM / a year ago

Mexico's next interior minister leaves board of financial firm Banorte

MEXICO CITY, Aug 2 (Reuters) - Olga Sanchez, who has been selected as interior minister by Mexico’s president-elect, said on Thursday she had resigned from the board of Grupo Financiero Banorte, one of the country’s largest financial institutions.

Sanchez said she left the board because she had won a seat in the Senate, which she will assume in September.

Starting in December, she will serve as the interior minister of leftist Andres Manuel Lopez Obrador, who won Mexico’s July 1 presidential election in a landslide. In that role, Sanchez will oversee domestic policy and serve as a bridge between the executive and state governments.

Sanchez, a lawyer who served on the Mexican Supreme Court for a decade, joined the board of Banorte in 2016 and was re-elected in 2017.

She said she resigned last week, during the board’s latest meeting.

A spokesman for Banorte declined to comment.

Banorte’s board is composed of 15 members, 11 of whom, including Sanchez, are classified as independent by Glass Lewis, an influential proxy-advisory firm. (Reporting by Diego Ore and Stefanie Eschenbacher; Writing by Julia Love; Editing by Peter Cooney)

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