Dufry would like to thank Jose Carlos Rosa for his valued contribution in leading the America II business during these years. With his dedication and personal engagement, he has been a key person in developing the region to where it stands today. Thus, Dufry is very pleased to have been able to retain Mr. Rosa as part of the Dufry management. His new role will be announced in due time.

Gustavo Magalhães Fagundes holds a degree in business administration and management from EAESP/Fundação Getúlio Vargas in São Paulo, a master in international economics and management from Bocconi University in Milan, an executive MBA from AmBev Corporate University, as well as a general management degree from Harvard Business School.

Before joining Dufry, Mr. Magalhães Fagundes was Area Director at Odebrecht Transport, reporting to the CEO. He brings 10 years of experience from the consumer and retail space as he also held positions in Brazilian travel retail as well as AmBev. In addition, he also worked at Accenture in the Strategic Services and Retail Services unit.

Julián Díaz, CEO of Dufry Group, commented: “We are very pleased that Gustavo Magalhães Fagundes joins the Dufry management. He has extensive experience in retail and will contribute to the further development of Dufry in Brazil and South America. We wish him a warm welcome and we are looking forward to working with Gustavo.”