BeFra Appoints Olga Botero as Independent Director to Its Board

GUADALAJARA, JALISCO, Mexico--(BUSINESS WIRE)--Betterware de México, S.A.P.I. de C.V. (NYSE: BWMX) (“BeFra” or the “Company”) announced today that Ms. Olga Botero has been appointed as Independent Director to BeFra’s Board, effective October 17, 2024.

Following Ms. Botero’s appointment, the Company’s Board comprises twelve members who possess a broad range of experience and skills in key areas such as strategy, finance, digital business, and marketing. Nine of the twelve Board members are Independent Directors.

Luis G. Campos, Executive Chairman of the Board, stated, “We are delighted to welcome Olga to our Board. As a proven Independent Board Director with over 20 years of experience in digital and technology, cybersecurity, and risk management across leading companies in the Financial Services, Technology, and Telecommunications industries, Olga brings deep knowledge of both the Mexican and global markets. We look forward to leveraging her expertise and are confident she will provide valuable perspectives as we advance our digital strategies within the Group.”

Ms. Olga Botero is the founder and Chair of SECCURI, and founder and CEO of C&S Customers and strategy. She currently serves as independent director of ALTIPAL, the largest consumer goods distribution and marketing company in Colombia, she is a member of the Audit Committee of Grupo Coppel, a Mexican retail and financial company, and has joined the Advisory Board of the Montoya Group, a group with companies in sectors such as Automotive, Music and Real Estate. Additionally, she serves as an independent director at Evertec Inc, is a member of the Audit Committee and Chair of the IT Committee.

Ms. Botero has a Bachelors and Masters degree in computer science from Iowa State University, focused specially on Cyber Security and Encryption. She also has a diploma in Finance from EAFIT University in Colombia, and a diploma in E-Business from EIA University. Ms. Botero has a Scholars Award in General Management from the Kellogg School of Business and has studied various counselors’ programs from Stanford, HBS, IESE and Kellogg.

About Betterware

Founded in 1995, Betterware de Mexico is the leading direct-to-consumer company in Mexico focused on offering innovative products that solve specific needs related to household organization, practicality, space-saving, and hygiene. Through the acquisition of JAFRA on April 7, 2022, the Company now offers a leading brand of direct-to-consumer in the Beauty market in Mexico and the United States where it offers Fragrances, Color & Cosmetics, Skin Care, and Toiletries. The combined company possesses an asset-light business model with low capital expenditure requirements and a track record of strong profitability, double digit rates of revenue growth and free cash flow generation. Today, the Company distributes its products in Mexico and in the United States of America.

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Matters discussed in this press release may constitute forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The words “believe,” “anticipate,” “intends,” “estimate,” “potential,” “may,” “should,” “expect” “pending” and similar expressions identify forward- looking statements. The forward-looking statements in this press release are based upon various assumptions. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations.