November 5, 2004- Santiago, Chile.
Quiñenco S.A. (LQ:NYSE) reported to the Chilean Superintendency of Securities and Insurance (SVS) today on the outcome of its Extraordinary Shareholders’ Meeting held earlier in the day.
Shareholders voted to reduce the number of board members of the company from nine to seven. Since this required a modification of the company’s by-laws, in order to facilitate the change, the Board of Directors as a whole resigned their respective positions at the Extraordinary Shareholders’ Meeting and, a new Board was reelected at that time. The Board is now composed of the following members, all of whom were Board members prior to the extraordinary meeting: Guillermo Luksic, Andrónico Luksic, Jean Paul Luksic, Hernán Buchi, Juan Andrés Fontaine, Matko Koljatic and Gonzalo Menéndez. At the next Board Meeting, the Board will designate its Chairman, Vice Chairman and Directors’ Committee members.
The next election of Board members is scheduled to occur in 2005, at the General Ordinary Shareholders’ Meeting.
Quiñenco S.A., a leading Chilean business conglomerate, is the controlling entity of a portfolio of companies involved in financial services, food and beverage, telecommunications and manufacturing.