OHL Mexico announces senior management change

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OHL Mexico announces senior management change

OHL México has announced that Mr. Raúl Revuelta Musalem, Chief Financial Officer (CFO) since February 16, 2015, has resigned from the company to pursue other professional endeavors.

Mr. Sergio Hidalgo, OHL Mexico’s Chief Executive Officer (CEO), will assume all related functions until a replacement has been named. It is expected to be announced at a later date.

In May 2015 OHL México was accused of irregularities regarding alleged misconduct in the development of its contracts in the country. The accusation was based on taped alleged phone conversations. The conversations, that supposedly involve senior OHL Mexico executives, appeared to show wrongdoing in connection with a 30 % hike in the toll to use the Viaducto Bicentenario.

After that, Ernst & Young was hired in the midst of the investigation in Mexico initiated by OHL's Board of Directors' Audit, Compliance and Corporate Social Responsibility Committee. According to a report submitted by Ernst & Young, OHL Mexico had complied properly and fully with the terms and conditions of the concession.

OHL Mexico is one of the largest operators in the private sector of concessions in transportation infrastructure in Mexico. The company’s portfolio includes seven toll road concessions, five of which are in operation, one under construction and one in the pre‐ construction phase.

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