Business Context and Reporting Period
This Form 8-K Current Report was filed by Southern Copper Corporation on January 2, 2008. The report addresses a specific corporate governance event regarding the appointment of a senior executive officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The material change reported is the appointment of Mr. Genaro Guerrero Diaz Mercado as Vice President, Finance and Chief Financial Officer, effective January 2, 2008. He replaces Mr. Jose N. Chirinos, who had served as interim Chief Financial Officer since June 2007.
Management Commentary and Background
Mr. Guerrero brings extensive experience within the Grupo Mexico organization, the Company's indirect majority stockholder. His background includes:
- Treasury functions with Grupo Mexico from 1992 to July 31, 2000.
- Service as Vice President, Finance, Chief Financial Officer, and Treasurer of ASARCO LLC (an affiliated company) from August 1, 2000, until May 3, 2006.
- A key financial role with Southern Peru Limited, a subsidiary of the Company, until December 31, 2007.
Investor Verification Checklist
- Confirm the effective date of Mr. Guerrero's appointment as CFO.
- Verify the departure status of the interim CFO, Mr. Jose N. Chirinos.
- Review Mr. Guerrero's prior compensation arrangements or any new compensatory agreements not detailed in this brief filing.
- Check for any related party transaction disclosures given Mr. Guerrero's history with the majority stockholder, Grupo Mexico.