Desarrolladora Homex, S.A.B de C.V. (Homex or the Company) announced the expansion of its management team as part of the CEO’s strategy to strengthen Homex’s capabilities and better position the Company to further leverage the growth opportunities in the Mexican housing market.

“We are pleased to announce the addition of three talented and experienced executives to the Homex management team,” commented David Sanchez-Tembleque, Chief Executive Officer. “These key appointments enhance our existing team in the areas of Sales and Marketing, Corporate Finance and Accounting. With increased strength in these areas, we believe Homex is better prepared to capitalize on the strong growth we see continuing within the Mexican housing market. We are confident that our enhanced operational and administrative leadership, combined with the continued support of the housing sector by mortgage authorities, banks and President Calderon, will allow us to capitalize on the increasing demand for housing while further growing our profitability.”

Alan Castellanos Carmona was appointed Vice President of Finance and Planning and Chief Financial Officer. Mr. Castellanos, who has extensive experience in working capital management, joins Homex from NAFIN, Mexico’s Development Bank, where he served as Deputy General Director of Business Development. Mr. Castellanos has an undergraduate degree in Business Administration from Universidad Iberoamericana, and earned his MBA from Instituto Panamericano de Alta Direccion de Empresas (IPADE).

Mr. Castellanos succeeds Mario Gonzalez Padilla, who will leave the Company effective March 1, 2007.

The Company also made the strategic decision to split the accounting and administrative duties from the corporate finance and treasury function in order to better support Homex’s continued growth. Accordingly, Angel Garcia Vazquez has been appointed Chief Accounting Officer. Mr. Garcia, who will report to the CEO, joins Homex from PriceWaterhouseCoopers’ U.S. Consulting business. Mr. Garcia has an undergraduate degree in Accounting from Universidad La Salle in Mexico.

In another important addition, Daniel Leal Diaz-Conti has been appointed Vice President of Sales and Marketing. Mr. Leal succeeds Jose Maria Vlasich, who was appointed Head of the Northern Region for Homex. Mr. Leal joins Homex from Hipotecaria Nacional, the largest private mortgage lender in Mexico where he served as Deputy General Director of Sales and Marketing. Mr. Leal was also President of the mortgage chapter in the Mexican Association of Banks until February 2007. Mr. Leal has an undergraduate degree in economics from Universidad Veracruzana.

About Homex

Desarrolladora Homex, S.A.B de C.V. is a leading, vertically-integrated home development company focused on affordable-entry level and middle-income housing in Mexico. It is one of the most geographically diverse home builders in the country. Homex has a leading position in the top four markets in the country and is the largest builder in Mexico, based on the number of homes sold and net income.

For additional corporate information please visit the Company’s web site at: www.homex.com.mx .

Source: Desarrolladora Homex, S.A.B de C.V.

This entry was posted on Wednesday, February 28th, 2007 at 11:33 pm and is filed under Real Estate. Tags: America bank corporate finance development finance Garcia home builder home builders Mexico mortgage lender PricewaterhouseCoopers . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.