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Team announcement

Grupo Ferré Rangel Appoints GXG CEO As New President

Grupo Ferré Rangel Appoints GXG CEO As New President, GXG

Today, María Luisa Ferré Rangel, Chief Executive Officer of Grupo Ferré Rangel (GFR), appointed Craig Lemasters as President of the Puerto Rico-based, consumer-centric, strategic investment conglomerate. Lemasters will drive growth in Puerto Rico and around the globe, while stepping into his new role as Chairman of GXG, Atlanta-based consulting firm.

"We're excited for Craig to leverage his 25 years of global business expansion experience and over two decades collaborating with companies in Puerto Rico to execute our goals." said Chief Executive Officer, GFR, Marisa Luisa. "Our family and Grupo Ferré Rangel's commitment are the same since the foundation over a century ago, and we're confident that investing in Craig will strengthen our executive team to invest in the island, prioritize the social and economic development, create jobs and bring solutions that address areas of opportunity in Puerto Rico."

As former CEO of Assurant Solutions, $5B Fortune 500 subsidiary of Assurant, Craig Lemasters has spent his career tackling major growth initiatives and is dedicated to helping fellow senior leaders get "unstuck" on the challenges they're facing. Lemasters plans to build on GFR's worldwide reputation as a media, business process outsourcing, and real estate powerhouse while leveraging his decades of experience in digital transformation and create lasting value for generations to come.

"I'm very passionate about wisdom-based learning and the execution model we built at GXG, and plan to bring that same initiative to GFR," said Craig Lemasters. "I believe in the people of GFR and will lead the team into new ventures, business development and digital transformation."

The Ferré Rangel family will continue to provide strategic direction as members of the Board of Directors. Under the direction of María Luisa Ferré Rangel, who will maintain her roles as Chairwoman of GFR's Board of Director and Publisher of GFR Media, the family will keep an active role: Antonio Luis Ferré, Kingbird Investment Management's Chief Executive Officer; María Eugenia Ferré Rangel, Chairwoman of the Board of Directors of GFR Media; Loren Ferré Rangel, Chief Business Development Officer and Luis Alberto Ferré Rangel, Chief Social Innovation Officer.

To further invest in people, Grupo Ferré Rangel also appointed Maria J. Miranda as Chief Financial Officer and Yanira Hernández as Comptroller of GFR. Miranda is a Certified Public Accountant and Certified Financial Planner. After working with GFR since 2018 as Executive Director of the Family Office, Miranda assumed the leadership of the finance team. Hernández joined GFR in 2018. "We are very proud of the talent that resides in our team. Both Marijose and Yanira are key pieces that strengthen the financial and executive teams, through their strategic contributions to the vision and objectives of the Group," added Ferré Rangel.

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