People: Popular Inc (BPOP.OQ)
23 Aug 2019
Mr. Alejandro M. Ballester is an Independent Director of the Popular, Inc. Mr. Ballester is a President of Ballester Hermanos, Inc., a major food and beverage distributor in Puerto Rico, since 2007. Mr. Ballester has a comprehensive understanding of Puerto Rico’s consumer products and distribution industries acquired through over 25 years of experience at Ballester Hermanos, Inc., a privately-owned business dedicated to the importation and distribution of grocery products, as well as beer, liquors and wine for the retail and food service trade in Puerto Rico. As of December 31, 2015, Ballester Hermanos had approximately $104 million in assets and annual revenues of approximately $288 million. Mr. Ballester is familiar with the challenges faced by family-owned businesses, which constitute an important market segment for the Corporation’s commercial banking units. He has proven to be a successful entrepreneur establishing the food service division of Ballester Hermanos in 1999, which today accounts for 36% of the firm’s revenues. As a director of Government Development Bank for Puerto Rico and member of its audit and investment committees during 2009, Mr. Ballester obtained experience in overseeing a variety of fiscal issues related to various government agencies, instrumentalities and municipalities. The experience, skills and understanding of the Puerto Rico economy and government financial condition acquired by Mr. Ballester have been of great value to the Board.
|Total Annual Compensation, USD||--|
|Restricted Stock Award, USD||100,000|
|Long-Term Incentive Plans, USD||--|
|All Other, USD||60,000|
|Fiscal Year Total, USD||160,000|