Mr. Ricardo Guajardo Touche serves as Independent Member of the Board of Directors of Fomento Economico Mexicano SAB de CV since 1988. He is also Chairman of the Finance and Planning committee of the Company. He is Chairman of the Board of Directors of Solfi SA, as well as Member of the Board of Directors of Grupo Valores Monterrey, Liverpool, Alfa, BBVA Bancomer, Grupo Aeroportuario del Sureste SA de CV (ASUR), Grupo Bimbo SAB de CV, Bancomer, Grupo Coppel, Coca-Cola FEMSA and ITESM. He is also Former Chairman of the Board of Grupo Financiero BBVA Bancomer SA de CV and has held senior executive positions in such companies as Grupo AXA SA de CV, Valores de Monterrey SA de CV and BBVA Bancomer. He holds a Bachelor of Science degree in Electrical Engineering from Instituto Tecnologico y de Estudios Superiores de Monterrey, a degree in Electrical Engineering from the University of Wisconsin and a Masters degree from the University of California at Berkeley.