Climbing the Corporate Ladder

Puerto Rico’s private sector names new execs at brisk pace

Puerto Rico has spent the last six months fighting the COVID-19 pandemic, but that has not seemingly discouraged the private sector to name new executives among its ranks.

Several industries have made recent announcements, as featured in this edition of “Climbing the Corporate Ladder.”

Endeavor Puerto Rico adds new board members
Endeavor Puerto Rico, the local affiliate of the global network of high-impact entrepreneurs, announced the appointment to its Board of Directors of three new members who will support the organization’s mission to drive long-term economic growth and build strong business ecosystems through recruiting, mentoring, and accelerating the best high-impact entrepreneurs on the island.

The newly appointed members are Jason Borschow, founder and CEO of Abarca Health and Endeavor Entrepreneur since 2018; Juan Sabater, partner of Valor Equity Partners, and Morgan “Mac” Schuessler, CEO of Evertec. Borschow, Sabater and Schuessler join existing members of the Board of Directors José Stella, co-founder and co-CEO of QMC; Ignacio Álvarez, president and CEO of Popular, Inc.; María Eugenia Ferré-Rangel, chairman of the Board of GFR Media, and Lisanne Dorion, former global director of intellectual property at Bacardí International.

The global Endeavor organization supports more than 2,000 entrepreneurs in 35 markets and 59 cities around the world. Once selected, Endeavor Entrepreneurs have access to personalized services, including access to international and local mentors, investors and capital, and new markets, as well as participation in professional training programs at Harvard and Stanford.

In Puerto Rico, Endeavor has engaged 21 entrepreneurs in its selection process who have been offered more than 150 hours of mentoring. The companies led by these 21 entrepreneurs generate more than $140 million in gross revenue per year and create 700 jobs.

Pablo F. Martínez

College Board names new VP for PR/LatAm office
College Board, an organization connecting students to success in college, appointed Pablo F. Martínez-Rivera as vice president of the Puerto Rico and Latin America Office (CBPRAL, in Spanish).

Martínez has stood out as a leader in educational organizations and as an international strategist for the past 25 years. As vice president of CBPRAL, he is committed to directing the organization, enforcing its mission, goals and priorities, which are key to expanding opportunities for access to higher education, College Board officials said.

For the past five years, Martínez has served as executive director of operations for CBPRAL. Under his direction, and in collaboration with the Puerto Rico Education Department, academic indicators were developed from the results of the College Board tests that are now part of the evaluation system in Puerto Rico.

Rosángela Sanfilippo

ACODESE members name new board
The Puerto Rico Association of Insurance Companies (ACODESE, in Spanish) elected a new board of directors for 2020-2021 during its recent general members assembly, naming Rosángela Sanfilippo as chairwoman of the entity.

Sanfilippo represents MCS Life Insurance Company, ACODESE Executive Director Iraelia Pernas said.

Jaime González of Antilles Insurance will serve as vice president, José Benítez of Universal Life Insurance Company as secretary, and Federico Grosso of Caribbean American Property Insurance Co., as treasurer.

ACODESE, an organization founded more than 45 years ago, represents the local insurance industry through its 20 associated companies. This institution is recognized for promoting, protecting and developing the welfare of the insurance industry in general. Its mission is to serve the industry, while helping to strengthen Puerto Rico’s economic and social development.

Antolín Velasco

Popular announces leadership change at Popular Auto
Popular Auto announced that José Arbona, current president of Popular Auto, will be retiring as of Sept. 30, 2020, after more than 25 years in the auto finance business in Puerto Rico.

Arbona joined Popular Auto in 2018 following Popular’s acquisition of Reliable Financial.

“José successfully led the integration of Popular Auto and Reliable, further strengthening our position and achieving significant growth in this important business,” said Popular Inc. CEO Ignacio Álvarez.

“José is highly respected within Popular and in the automotive industry. It has been a privilege to have him as part of our team and we wish him the best in this new stage that is starting,” he said.

The company announced that Antolín Velasco will be the new president of Popular Auto. Velasco has a track record at Popular of more than 25 years, serving in several positions during his career, including the presidency of Popular Auto between 2014 and 2018.

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This story was written by our staff based on a press release.

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