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Empresas CEO Quintana resigns, shares end -14%

Feb. 23, 2016 4:59 PM ETEmpresas ICA S.A. DE C.V. (ICA) StockICABy: Carl Surran, SA News Editor
  • U.S.-traded shares of debt-burdened Mexican construction giant Empresas ICA (NYSE:ICA) fell 14.3% in today's following the resignation of CEO Alonso Quintana, the latest top-level management move which began in December with the exit of the CFO.
  • ICA has been pressured by a weaker Mexican peso on its dollar-denominated debt as well as a decline in earnings at its construction division and delays in payments on government contracts.
  • Longtime company veteran Luis Zarate is named as the new CEO.

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