MIAMI — Brewing exec Maria Asuncion Aramburuzabala has been named vice chairman of the Grupo Televisa board, filling a spot vacated by Alejandro Burillo.
Burillo relinquished his post after selling his 25% stake last month in Televicentro, the privately held holding company that controls Televisa.
The Aramburuzabala and Fernandez families, which own Mexican brewing giant Grupo Modelo, came in as new investors, buying a nearly 21% stake in Televicentro. Televisa chairman and CEO Emilio Azcarraga holds 54% of the holding company; Sinca Inbursa, the Mexican venture capital fund controlled by billionaire Carlos Slim, owns 25% but is obligated to vote with Azcarraga.
Maria Asuncion Aramburuzabala is Modelo’s vice chairman and member of the executive committee.
Also, Carlos Fernandez, CEO of Modelo, was added to the Televisa board. Juan Pablo Andrade, asset manager of the Aramburuzabala family, and private investor Lucrecia Aramburuzabala were made alternates.