November 20, 2014 / 7:53 PM / 3 years ago

Mexico's Banorte CEO and Chairman resign

MEXICO CITY, Nov 20 (Reuters) - Mexico’s Grupo Financiero Banorte said on Thursday its board had accepted the resignation of both its chairman and chief executive.

Guillermo Ortiz will step down at the end of the year, while CEO Alejandro Valenzuela was replaced effective immediately by Jose Marcos Ramirez. Carlos Hank Gonzalez, who recently joined the bank’s board, was voted in as the new chairman.

Mexican media began speculating in August that Ortiz could leave the company. (Reporting by Christine Murray)

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