Latin Trade (English Edition) - Sept/Oct 2013

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Latin Trade is the premier pan-regional business publication in Latin America. Respected and trusted with more than 17 years of experience in the region and published bi-monthly in Spanish and English, we provide more than 160,000 readers with indispensable, high-quality information on the major issues and personalities that shape corporate developments in Latin America. No other pan-regional business magazine delivers the premium audience of Latin Americas most powerful business and government leaders as well as access to its sophisticated consumers.

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  • SPECIAL REPORT: LOGISTICS, THE NEW OPPORTUNITIES

    YOUR BUSINESS SOURCE FOR LATIN AMERICA WWW.LATINTRADE.COM SEPTEMBER/OCTOBER 2013

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    RECOGNIZING EXCELLENCE AND LEADERSHIP IN GOVERNMENT, BUSINESS AND SOCIAL DEVELOPMENT

    BUSINESS AWARDS 2013

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    Otto Prez Molina Mara das Graas Silva Foster lvaro Fernndez Garza Germn Efromovich Ignacio Antoanzas The Goodyear Tire & Rubber Company

    Magalie Dresse Marina Silva Enas Pestana

    ALSO INSIDE:A TRUTH ABOUT PDVSA

    PRIVATE BANKING AND PHILANTHROPYEXECUTIVE EDUCATION

    FINANCE: LATIN AMERICA 2014

  • www.arcosdorados.com

  • www.arcosdorados.com

  • 4 LATIN TRADE SEPTEMBER-OCTOBER 2013

    CONTENTS SEPTEMBER/OCTOBER 2013 VOL. 21 No.5

    30 40 42

    28 30 32 34

    26 36 38 4240

    FeaturesBRAVO Business Awards 19: The 2013 Winners

    26 Leader of the Year: Otto Prez Molina, President of Guatemala 28 Lifetime Achievement: Mara das Graas Silva Foster, CEO, Petrobras30 CEO of the Year: lvaro Fernndez Garza, CEO, Alfa32 Innovative CEO of the Year: Germn Efromovich, CEO, Synergy Group34 International CEO of the Year: Ignacio Antoanzas, CEO, Enersis36 Trade Americas BRAVO Award: The Goodyear Tire & Rubber Company38 Innovative Social Sustainability: Magalie Dresse, President, Caribbean Craft40 Distinguished Service in the Hemisphere Award: Marina Silva, Former Senator of Brazil and Director of the Institute of Democracy and Sustainability 42 Dynamic CEO of the Year: Enas Pestana, CEO, Grupo Po de Acar

    46 Lawyers: Iberian Action Spanish Wave

    The top law firms are going at it alone.

    50 Oil & Gas: PDVSAThe ugly truth about PDVSA

    56 Private Banking: Philanthropy The altruistic angle

    62 Foundations: High ImpactHouses with a heart

    Ronald McDonald House Charities is one of the few foundations that extend throughout the entire region of Latin America. A case study of high impact.

    64 Investment: UruguayA national purpose Its investment climate makes it a magnet

    for foreign investment.

    66 Special Report: Executive EducationThe search for the ideal executive

    The skills and training firms look for.

    Special Report: Logistics The opportunities of the new international order of logistics.

    84 Economy: Forecast 2014 Better, but not the best Predictions for Latin American economies.

    88 Ranking: The 25 Most Powerful Women The women at the top Meet the women who head the Latin American

    business community.

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    72-82

  • 6 LATIN TRADE SEPTEMBER-OCTOBER 2013

    CONTENTS SEPTEMBER/OCTOBER 2013 VOL. 21 No.5

    Editors Note8 Leadership, the key to growth

    The Scene 12 Entrepreneurship and Social Mobility

    12 Opportunities in the United States

    Opinion14 The Contrarian: Latin Americas

    Booming PharmaBy John Price. Read about how pharma

    has become a local affair.

    Agribusiness16 Olives

    The new American fruit.

    Beverages18 The promised land

    China gives the Mexican drink a shot.

    On the Road94 Duty-free: Growth, Challenges & Change.

    The Latin American duty-free market evolves.

    Events 98 CFO Bogota

    A good lesson from Suras CFO.

    100 CFO Sao PauloThe road ahead.

    SPECIAL REPORT: LOGISTICS, THE NEW OPPORTUNITIES

    YOUR BUSINESS SOURCE FOR LATIN AMERICA WWW.LATINTRADE.COM SEPTEMBER/OCTOBER 2013

    RECOGNIZING EXCELLENCE AND LEADERSHIP IN GOVERNMENT, BUSINESS AND SOCIAL DEVELOPMENT

    BUSINESS AWARDS 2013

    Otto Prez Molina Mara das Graas Silva Foster lvaro Fernndez Garza Germn Efromovich Ignacio Antoanzas The Goodyear Tire & Rubber Company

    Magalie Dresse Marina Silva Enas Pestana

    ALSO INSIDE:A TRUTH ABOUT PDVSA

    PRIVATE BANKING AND PHILANTHROPYEXECUTIVE EDUCATION

    FINANCE: LATIN AMERICA 2014

    Cover: 19th Annual BRAVO Business Awards Photo: Pablo Blazquez

    WebFind us online at www.latintrade.com

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    ERRATUMOn page 73 of our July/August issue, by mistake we identified Francisco Estrazuelas de Souza, consultant Connect Americas at the IDB, as Daniel Veron. Our sincere apologies.

    On the list of the Latin 500 we erroneously classified Skanska as an auto maker. It should be classified under construction. Skanska is involved in construction, commercial property and public private partnerships.

  • 8 LATIN TRADE SEPTEMBER-OCTOBER 2013

    Santiago Gutirrez,Executive Editorsgutierrez@latintrade.com

    EDITORS LETTER

    LEADERSHIPTHE KEY TO GROWTH

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    Big entrepreneurial success stories are becoming more and more common in Latin America. Th e list of large, effi cient international companies has grown, and they have become more relevant to the world economy.

    Th e explanation for their success goes be-yond high commodity prices or the growth of the middle class. On one hand we have enor-mous worldwide liquidity that has lowered interest rates and moved investors money into the developing economies, where there is a higher return on capital. Th ere is also growth in local savings in the pension funds, the retreat of multinational fi rms to the their trenches in their fi rst-world home countries, and the changes in the way goods are made in global manufacturing chains that require decentralized production processes in dif-ferent parts of the world. In large and small ways, all of this is creating a space for the growth of local companies.

    In the last few years a powerful economic and fi nancial tail wind has been generated which facilitates the take-off of companies in the region. All of the companies, the good and the not so good, have felt this positive

    Never have there been changes of direc-tion so profound, or results so favorable in this region like those of the last fi ve years. Behind those changes are managers who are ever more audacious but who are increasingly tying their actions to their basic corporate values. Th e proof? Th e leadership styles of the CEOs who are winners of the BRAVO 2013 Prizes in Business who are showcased in this edition.

    As we have learned in so many ways in Latin America, opportunities are worthless without business leaders who fi nd them and take advantage of them for the good of all. Hence, an extraordinary tool for accelerating economic growth would be to make good cor-porate leadership a more abundant resource.

    For now, its still re-freshing to think that you can be successful in any sector, provided that the leader allows it to happen.

    eff ect. Th e same is happening to the regions countries. Almost all of them grew regardless of their starting point or their policies. To put this in more familiar terms, paraphrasing the old adage, it was the hurricane that enabled even turkeys to fl y.

    In spite of such favorable conditions, the fastest and most long-lasting growth will surely come from the companies with the best leadership. Th e proof? Th e facts. With just two exceptions (chemicals and manu-facturing) the diff erence between companies with the biggest and the smallest operating margins in the 22 sectors included in the Latin 500 of Latin Trade is above 14 per-centage points. Th e average diff erence is 35 percentage points and in some sectors, such as energy, retail, aluminum and beverages, its more than 50 points. Th ats a huge diff erence between the two extremes (See the details at www.latinbusinesschronicle.com). What this means is that the profi ts of a company dont depend on the industry but on the leadership each one has for conceiving and executing its strategic decisions. Th e best companies have operating margins of up to 50 points larger than the worst ones.

  • ENERO-FEBRERO 2013 LATIN TRADE 9

  • 10 LATIN TRADE SEPTEMBER-OCTOBER 2013

    CEO Rosemary Winters

    EXECUTIVE DIRECTOR & PUBLISHER Mara Lourdes Gallo

    EXECUTIVE EDITORSantiago Gutirrez

    DEPUTY EDITORMark A. Keller

    ART & PRODUCTION DIRECTOR Manny Melo

    GRAPHIC DESIGNER Vincent Becchinelli

    CONTRIBUTING EDITORS Gabriela Caldern (research), Mark Ludwig

    COLUMNISTJohn Price

    CORRESPONDENTS Argentina: lida Bustos, David Haskel, Charles Newbery Brazil: Taylor Barnes (Rio de Janeiro),

    Vincent Bevins, Thierry Ogier, (So Paulo) Chile: Gideon Long China: Ruth Morris Colombia: John OtisMexico: Arturo Franco (Mexico D.F.), Nancy Ibarra (Monterrey) Peru: Lisa K. Wing, Ryan Dube

    Spain: Sergio Manaut US: Alejandra Labanca, Joseph Mann Jr. , David Ramrez, lvaro Moreno, Jaime Meja (Miami), Mark Chesnut (NY) Uruguay: Diego Stewart Venezuela: Peter Wilson

    TRANSLATION: Ken Emmond, lida Bustos, Alejandra LabancaCOPY EDITING: Millie Acebal Rousseau, lida Bustos

    SALES & CIRCULATION

    Miami/Pan-regional sales: Silvia Clarke, Senior Account Manager/Team LeaderMercedes Fernndez, Business Development Director

    Andean region/Central America: Mara Cristina Restrepo, ManagerDubai: Stephen Dioneda

    Marketing & Sales Associate: Cristina DiazMarketing & Sales Coordinator: Viviana Gonzlez

    For advertising/sponsorship opportunities: cdiaz@latintrade.com or vgonzalez@latintrade.com

    LATIN BUSINESS CHRONIC