Board of Directors

The Board of Directors is made up of seven members and one of its main activities is decision-making for the fulfillment of corporate strategic objectives.

Members of the Board of Directors

The presidency of the Board of Directors is held by an independent member. Out of the seven members of the Board of Directors, four of them meet all the conditions established in our Code of Good Governance to be considered independent members.
The main activities of the Grupo Argos Board of Directors consist of carrying out decision-making processes for the fulfillment of the corporate strategic goals and to follow-up on the implemented actions, seeking to always find the best interests for the company and its shareholders.

Committes

This Committee is made up of three independent members of the Board of Directors. The members of the Committee must have at least one with experience in matters of corporate finance and / or matters related to the design and implementation of internal control systems. The Secretary General of the Company or the person designated by the latter shall act as secretary of this Committee. Likewise, the Company CEO, the vice president of corporate strategy and finance, the Internal Auditor and the Fiscal Auditor will attend the meetings, with voice but no voting rights.

The main purpose of the Committee is to evaluate the accounting procedures, the management of the relationship with the Statutory Auditor and to supervise the effectiveness of the control architecture and the risk management system. The functions of the committee can be consulted in numeral 19.1.2 of the Chapter III of the Code of Good Governance and in article 60 of the Bylaws.

This Committee is composed of Jaime Alberto Palacio, Miguel Heras, and Juan Guillermo Castañeda.

The Committee is composed of three independent members of the Board of Directors. The members of this Committee must be knowledgeable in matters of strategy, best practices and trends in human resources, and issues related to compensation policies and related matters. The Secretary of this Committee is the Vice President in charge of the talent and administrative areas of the Company, or the person designated by him/her.

The main goal of this Committee is to support the Board of Directors in the exercise of its functions related to the strategy and integral management of the organization’s talent, succession processes, and appointments, and in the exercise of the tasks associated with the compensation guidelines for Grupo Empresarial Argos employees, including the compensation of the Board of Directors and Senior Management. 

The committee’s functions can be consulted in numeral 19.2.2 of Chapter III of the Code of Good Governance.

This Committee is composed of Juan Guillermo Castañeda, Joaquín Losada and Ana Cristina Arango.

This Committee is made up of three members of the Board of Directors, at least one must be an independent member. Likewise, the Company CEO attends the meetings with voice but no voting rights, and the Secretary General of the Company or the person designated by the latter shall act as secretary of this Committee.

The main goal of this Committee is to assist the Board of Directors in its role of proposing and supervising the measures of Sustainability and Corporate Governance of the Company. The functions of the Committee can be consulted in numeral 19.3.2 of Chapter III of the Code of Good Governance.

This Committee is composed of Joaquín Losada, Claudia Betancourt and David Yanovich.


Board of Directors profiles matrix 2026

More information

The remuneration of its members is approved by the Shareholders’ General Assembly, according to the structure, obligations and responsibilities of this board, as well as the personal and professional skills of its members, the time invested and their experience.

The members of the Board of Directors are remunerated through a fee per session attended by the Board of Directors and a fee per session attended by the Board of Directors’ Committees.

Remuneration for attended session of the Board of Directors and the Board of Directors’ Committee:

April 2025 – March 2026

$11.792.000

The Board of Directors is evaluated annually, alternating between external evaluation and self-assessment. The external evaluation is conducted by an independent firm and may include peer evaluation.

Chapter III of the Code of Good Governance contains the Operating Regulations of the Board of Directors. It regulates among others, matters relating to:

  • Principles of action.
  • Responsibilities.
  • Selection criteria.
  • Election and conformation.
  • Incompatibilities.
  • Terms.
  • Rules of operation.
  • Budget.
  • Performance Appraisal.
  • Board of Directors’ Committees.

The Board of Directors has three committees, which are appointed by the board, and they are made up of members of the Board of Directors.

 

Jaime Alberto Palacio

Member of the Board of Directors of Grupo Argos S.A. since 2024. He holds a degree in Business Administration from Universidad EAFIT, with an emphasis in Marketing from the University of Pennsylvania. Based in Medellín. He serves as General Manager of Coldeplast S.A., Microplast S.A., and Inversiones Forestales La Cabaña S.A.S. He has extensive experience in the private sector, through his roles as general manager of various companies and his participation on the boards of directors of listed companies in Colombia, which provides him with a strong understanding of commercial matters and the strategic, financial, and sustainability aspects of business.

  

Ana Cristina Arango

Member of the Board of Directors of Grupo Argos since 2009. She is a Civil Engineer from Universidad EAFIT and holds a Master’s degree in Business Administration from Universidad de los Andes. Based in Medellín. She currently serves on the Boards of Directors of Distribuciones Agralba S.A. and Productos El Caribe S.A. She has extensive experience in the financial, risk management, and cement sectors. Ana Cristina Arango has served on the boards of private companies in Colombia, which has allowed her to develop a strong understanding of the operational and strategic dynamics of business.

  

Claudia Betancourt

Member of the Board of Directors of Grupo Argos S.A. since 2018. She holds a degree in Economics from Colegio Mayor de Nuestra Señora del Rosario. Based in Cali. She currently serves as General Manager of Amalfi S.A.S. and has previously held the positions of Vice President of Investments and Vice President of Credit and Risk at Corfivalle S.A., with extensive experience in the financial, risk management, cement, and energy sectors. She serves on the boards of directors of companies listed on the Colombian Stock Exchange, which provides her with a strong understanding of the country’s business dynamics. She was a member of the Board of Directors of Cementos Argos S.A. from April 2009 to March 2018.

 

Juan Guillermo Castañeda

Member of the Board of Directors of Grupo Argos since 2026. He holds a degree in Industrial Engineering from Pontificia Universidad Javeriana and a Master’s degree in Industrial Administration from Purdue University. Based in Fort Lauderdale, United States. He has served as a CEO with experience managing large-scale operations in the packaging industry and with strong knowledge of the Latin American and U.S. markets. He developed his professional career at Smurfit Westrock, where he led M&A transactions focused on strategic growth, integration, and operational excellence, as well as regional expansion. He has experience in manufacturing, plant management and industrial operations, corporate finance, and capital investments, with a strong sensitivity to organizational culture, talent development, and sustainability.

 

Miguel Heras

Member of the Board of Directors of Grupo Argos since 2026. He is an economist with a specialization in Finance and Political Science from the University of Pennsylvania. Based in Panama. He is the Founder and Managing Partner of MKH Capital Partners, a private equity firm with offices in Florida and Panama, specialized in investments in the consumer, business services, and healthcare sectors. He has developed his career in asset and portfolio management as well as in private equity, with a track record that combines public service, business leadership, and strategic vision. He serves as Chairman of the Board of Directors of Bladex. He has chaired and served on multiple boards of directors. Previously, he held positions in the Government of Panama as Minister and Vice Minister of Economy and Finance between 1994 and 1998, leading Panama’s privatization and trade liberalization processes.

 

Joaquín Losada

Member of the Board of Directors of Grupo Argos since 2026. He holds a degree in Business Administration from Oglethorpe University. Based in Cali. He currently serves as President of Fanalca S.A.S., where he has managed an industrial and services conglomerate with more than 30,000 employees and operations across multiple sectors and countries in the region. Throughout his career, he has led operations in mass transportation, water utilities, recycling, auto parts, and manufacturing, with a focus on international expansion, operational efficiency, and strategic alliances. He has actively participated on the boards of directors of companies, business associations, and universities, promoting a long-term vision of sustainability, business competitiveness, and public–private collaboration.

 

David Yanovich

Member of the Board of Directors of Grupo Argos since 2026. He holds a degree in Industrial Engineering from Universidad de los Andes and a Master’s degree in Economics from the London School of Economics. Based in Bogotá. He is a Founding Partner of Cerrito Capital S.A.S., an investment banking and advisory firm specialized in infrastructure and energy. He has served as a member of boards of directors across companies in various sectors, including his role on the Board of Directors of Celsia S.A. from April 2015 to November 2022.