Cox
strengthens its commitment to Latin America and establishes its regional
headquarters in Panama
This decision reflects the region's growing
strategic importance to Cox's business, as it accounts for approximately 95% of
the company's operations and is the focus of an investment plan exceeding $7
billion.
Cox is
establishing its regional headquarters for the Americas in Panama—a region
encompassing the Group's operations in North America, Central America, and
South America—thereby reinforcing its commitment to an area that accounts for
95% of its business activity. This decision aligns with the Group's evolution
and the increasing significance of these markets to its operations.
The
establishment of the regional headquarters in Panama comes amidst Cox's strong
growth in Latin America. The company has planned investments exceeding $7
billion in strategic water and energy projects across the region, aiming to
drive critical infrastructure for economic development and enhance water and
energy resilience in these markets. Panama’s geographic location, connectivity,
and status as a hub for financial institutions, multilateral organizations, and
international companies make it a strategic platform to support the company's
regional growth.
The new
organizational structure will combine global corporate leadership with
strengthened regional management, bringing the executive team closer to the
projects, clients, and opportunities that will define the company's next phase
of growth. Enrique Riquelme, the Group's Executive Chairman, will divide his
time between Panama and Spain, maintaining a constant link between the European
corporate platform, international financial markets, and the Group's key
operational hubs. This organizational evolution relies on a structure that
combines global capabilities with regional management, featuring global
corporate leadership based in Spain—where the Group’s headquarters remain—while
Panama will serve as the regional platform for the Americas. From there, the
development and management of the company’s key projects and investments in the
region will be coordinated through the Asset Co. Meanwhile, management of all
the Group’s assets in Mexico—a strategic growth market following the
acquisition of Iberdrola México—will be maintained locally.
As part of
this new phase, Enrique Riquelme, Executive Chairman of Cox, will relocate part
of his operations to Panama to lead the execution of the Group’s growth
strategy from within the region. This strengthened presence will accelerate the
coordination of projects and investments, bolster institutional and financial
relationships, and bring decision-making closer to the markets where Cox
conducts the majority of its business.