BeFra Announces CFO Appointment

GUADALAJARA, Mexico--(BUSINESS WIRE)--Betterware de México, S.A.P.I. de C.V. (NYSE: BWMX) ("BeFra" or the "Company"), the leading direct-to-consumer company in Mexico through Betterware and Jafra, today announced the appointment of Rodrigo Muñoz as Chief Financial Officer, effective today.

Mr. Muñoz brings more than 20 years of related experience to the position, having led the finance areas of multinational companies in retail, services, telecommunications, and banking sectors. During this time, he held Key Financial roles and responsibilities at publicly traded consumer products and services companies, such as Alsea, S.A.B. de C.V. and Grupo Televisa, S.A.B.

“The Board and I are thrilled to welcome Rodrigo, as he brings the right mix of experience and industry expertise to help lead our next phase of growth as we advance on BeFra’s transformational path,” said Andres Campos, President and Chief Executive Officer of BeFra. “We want to thank Alejandro for his contributions during his tenure with us and, looking ahead, we are confident that Rodrigo will effectively lead BeFra’s finance area, employing financial and cost discipline as we seek to optimize our capital structure and financing costs to drive additional profitability.”

Luis Campos, BeFra’s Chairman of the Board, added, “Rodrigo brings considerable financial and leadership experience with a keen eye toward strategic financial oversight. I speak for the entire Board in our support of Rodrigo’s appointment and our continued guidance which helps ensure a seamless transition and a world-class finance function that contributes to driving long-term shareholder value.”

Mr. Muñoz has significant experience in the consumer products sector. He joins BeFra from Grupo Devlyn, the leading eyewear retailer in Mexico, where he has served as CFO for the past 4 years. Notably, he served as Regional CFO (Mexico) and FP&A Director of Alsea (BMW: ALSEA), a leading Quick Service Restaurant (QSR), coffee shop, and Casual Dining Restaurant operator in Latin America and Europe. He has also held CFO positions for “Grupo Diniz, Creel, García-Cuellar, Aiza & Enriquez” and various Subsidiaries in Grupo Televisa. Mr. Muñoz received an MBA in Finance from IPADE Business School and a B.A. in Finance from Universidad Tecnológica de México, Both in Mexico City.

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 with its recent acquisition, it now has gained presence in the United States through JAFRA's portfolio of products.

Cautionary Statement Regarding Forward-Looking Statements

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.