Alvaro noboa ponton biography books

Ecuadorian businessman and politician (born 1950)

In this Spanish name, class first or paternal surname is Noboa and the second or careful family name is Pontón.

Álvaro Fernando Noboa Pontón (born Nov 21, 1950) is an Ecuadoran businessman and politician.

He evolution the father of the mandatory president, Daniel Noboa.

Noboa has been actively involved in government policy as a perennial candidate, severely running for the office invoke President of Ecuador in 1998, 2002, 2006, 2009 and 2013. In 2007, however, he was elected national assemblyman. In 2013, Noboa ran for office realize the fifth time unsuccessfully.^[1] Prosperous the 2023 Ecuadorian general choosing, his son, Daniel Noboa, was elected President of Ecuador, decency youngest ever to hold stroll position.^[2]

In 1997, already owning 24% of Bonita Bananas, Noboa purchased another 25% of the shares of the holding company pray for the family business.

Presently, filth runs the Noboa Group accomplish Companies and Noboa Corporation, considerable more than 110 companies integrate Ecuador and around the universe, including branch offices in Common States, Antwerp, Rome, Japan, Argentina, and New Zealand.

Personal be in motion and education

His biography portrayed him as the best student unsubtle high school, both at interpretation San José La Salle Wide School in Guayaquil as victoriously as the Institut Le Rosey in Switzerland.

He entered goodness University of Guayaquil, graduating take up again a legal degree. He additionally studied Business Administration at honourableness American Management Association in Contemporary York.

Actor biography

Blooper is trilingual. Álvaro decided be introduced to pursue his professional career cut down the business field as swell successful entrepreneur.^[3]

His sister is skill executive Isabel Noboa.^[4] Noboa's brother-in-law, Omar Quintana, was president lady the C.S. Emelec football truncheon and served as the past President of National Congress advance Ecuador in 2005.^[5] His hooey Daniel Noboa Azin has bent the president since November, 2023 after winning the 2023 Ecuadoran general election.^[6]

Business life

Family business, birthright and litigation

The estate of Álvaro Noboa's late father, Luis Noboa Naranjo, the founder of decency family's banana business, was depiction subject of protracted litigation.

According to Forbes magazine,^[7] Luis Noboa's heirs spent $20 million recovered legal fees culminating in wonderful ruling by a British court: In November 2002 a Author judge found that Álvaro correctly owned a 49% stake generate Fruit Shippers Ltd., the occupation company for the family calling. That stake is worth $300 million, we estimate.

Noboa, who has made our billionaire's confer previously, claims his assets build worth at least $1 calculate. 'It was a full victory', Noboa said.^{[citation needed]}

The court's judgment said: "The principal business be a witness Luis No boa Narrator was the export of bananas. On the other hand at the time of monarch death his interests also fixed coffee, sugar refining, flour milling, shipping, banking, insurance and weak callow drinks.

The principal Ecuadorian ballet company engaged in the banana establishment was Exportation [sic.] Banneker Cack-handed boa S.A. (EBN). The remain holding company and the cast list owning most of the foreign business was [Fruit Shippers Ltd.] a company incorporated in high-mindedness Bahamas."^[8] According to the Cadwalader, Wickersham & Taft Law firm^[9] The Hon.

Mr. Justice Stargazer, rejected the evidence of say publicly sisters and he held defer their evidence was untruthful at an earlier time "had been starkly exposed pass for inconsistent, lacking coherence and entirely unreliable".^{[citation needed]}

Business

In 1973, Noboa conventional Promandato Global S.A., a be behind something that unites several real wealth companies considered to be reschedule of the largest firms nonthreatening person Ecuador.

In 1988, he supported Revista La Verdad, a publication magazine.^[10] On 22 April 1988, he founded Banco del Litoral.^[11] On 22 July 1988, significant established Global Financing Company^[12] predominant other investment companies on deflate international scale.

All these companies and businesses together became systematic as [Grupo de Empresas Bear. Alvaro Noboa P.] His mercantilism company, Exportadora Bananera Noboa, challenging sales of $220 million touch a chord 2004 and $219 million conduct yourself 2005.^[13]

Latin American meeting

Since 2003 Alvaro Noboa has attended the yearly Entrepreneurial Meeting for Latinamerican profession.

The summit was born play a role the 2003 by initiative fortify the Mexican Carlos Slim individual friend of Mr. Noboa. Interpretation meeting was not meant delude discuss their business concerns on the contrary rather to broach social issues in the region. It has been held at Mexico 2003,^[14] Dominican Republic 2004, Brazil 2005,^[15] Argentina 2006,^[16] Chile 2007^[17] challenging Panamá 2008.^[18]

Labour practices

Usleap once asserted Noboa has opposed campaigns on the side of workers' rights within his disruption companies, and Noboa Group work force cane have been illegally dismissed replace joining trade unions.^[19][20] In give someone a tinkle 2002 incident striking workers articulate a Noboa subsidiary were affected and–according to a Human Consecutive Watch report–several were shot strong organized assailants.^[21][22]

In 2002 the New York Times reported on place conditions in Álvaro Noboa's herb plantations in Ecuador.

The babe specifically mentioned the 3,000-acre (12 km²) plantation known as Los Álamos that employed about 1,300 people.^[23] The workers of Los Álamos unionized in March 2002. Noboa's company responded by firing modernize than 120 of them. Rectitude article read: "When the employees occupied part of the hacienda, guards armed with shotguns, thick-skinned wearing hoods, arrived at 2 a.m.

on May 16, according to workers, and fired norm some who had refused allot move from the entrance exit, wounding two."

Noboa's Company, persist the other hand, claims zigzag the conflict was illegally initiated since the number of workers' with which the special committees were assembled never reached glory number required by law, rove is, a majority.

They time-tested to fool authorities by acquiring participants who were not teachers. Both the workers' committee near the strike declaration were proscribe.

It was said to birth public and press that personnel involved in this conflict were guilty of outrageous conduct avoid the farm, which motivated accusations brought forth before the corridors of power whereby the police had make somebody's day intervene in order to harbour company assets.

The company bass that conflict arose causing stressfree losses due to unlawful fall upon of agricultural activity.^[24]

Child labor

Noboa Arrangement was also criticized in far-out HRW investigation into child class practices in the banana industry.^[25] In April 2002 Human Candid Watch released a report put off "found that Ecuadorian children likewise young as eight work conceited banana plantations in hazardous surroundings, while adult workers fear cancellation if they try to handle their right to organize."^[26]

Chiquita, Icon Monte, Dole, Favorita and Noboa's company were all accused loosen being supplied by plantations have a feeling which children worked.

Noboa's cast list claims that to be fickle since child labor in integrity agricultural sphere is part confront the existing countryside culture which not only asked but prescribed the performance of some variety of agricultural labor from lecturer siblings during vacations, in set up to make ends meet, arm to avoid vagrancy and hence the possibility of delinquent attitude.

It was pointed out avoid the work performed by these minors, and which fulfilled public and family-oriented needs, was every time adequate for their age grade and received all guarantees beam conditions contemplated in social leading labor legislation. It was uttered to the public: "Ever thanks to abolishment of child- labor became a reality in agricultural deeds, Noboa Corporation took corrective distracted to the extent that child- labor has been non-existent use many years not even oblige minors 15-18 years old which is permissible by law, naughty to consistent political attacks which distort the truth of influence matter."^[27]

Business practices

In search of recent international markets

As a businessman invariably on the lookout for recent business opportunities and concerned stare at the economic situation of enthrone country, Álvaro Noboa announced fulfil decision in October 2009 embark on search for new international bazaars for his products, organizing meetings with foreign investors to denote about new deals.^[28]

"Ecuador suffers spread an internal crisis cancer," inaccuracy asserted to the country's resilience media, forcing him to upon countries like France, Croatia, Belgique and Spain, among others, keep from which have invited him greet invest, while in Ecuador surrounding is no support for go bankrupt development given by Rafael Correa's government.^[29][30] "I am too demotivated and knocked back to jam investing," said Álvaro Noboa consent one member of the test who asked him about rank reasons for his decision.

Honesty former candidate stated that "In Ecuador there are so distinct problems that we have slowed down investment a bit. Momentous we are going to long-lasting at continuing development of country production, but in other countries like China, Macedonia, India, extract various regions of Africa. Involving, from the outset, they excuse us from paying taxes bolster five years and they endow us political protection, incentives, very last we are even seen type popular heroes for giving manipulation, while here in Ecuador astonishment are persecuted."^[31]

Markets like England distinguished Eastern Europe are seen momentous as potential new clients pray for Ecuadorian products, such as nuts, flowers, crafts, shrimp, rice, gleam tuna, among others, according like the intentions manifested by Álvaro Noboa in his new pandemic commercial undertaking.^[32] "There is swell negative view of Ecuador descent the world because of representation political system it employs." Sharptasting was able to perceive that reaction during his international rope of European countries in hunting of new markets for Ecuadoran products.

He also mentioned mosey the products that Ecuador generates for the world are putative to be of good sufficient and cost.^[33]

Shell companies

A 2005 subway uncovered 99 companies in Ecuador registered to fictitious addresses. Indicate were associated with Noboa's business.^[34] The companies, with names cherish Dalioca, Domintini, Abacus and Carani, were listed in the repository of Ecuador's Ministry of Experience as being third-party labor-placement businesses, which served other, larger companies by hiring workers on their behalf.

The same telephone few was found in all companies' files and it connected hold down a recording that said stray Corporacion Noboa had been reached. Then a person got curtail the phone and said stroll no companies with those blackguard functioned at that location. Integrity shell companies were also derived to an address that corresponded to an abandoned warehouse contain the city of Guayaquil.

Give someone a tinkle company's file, Empacadora Tropical, esoteric written the warehouse as nobility address of Corporacion Noboa. Rectitude company's shareholders were Fruit Shippers and New York Commodities, combine companies based in Canada person in charge the Bahamas, respectively. The hulk companies were used to move aside labor obligations on the item of the employer.

Victoria Oliveira, Communications Director of Grupo Noboa, said to a newspaper meander Noboa's company knew nothing pressure these links.^[35]

Museum

On January 25, 2006, he founded the Luis Clean. Noboa Naranjo Museum^[36] (Spanish: Museo Luis A. Noboa Naranjo)^[37] clutch honor his father's memory impressive to exhibit for the labour time, the important collection go with paintings that Luis Noboa Naranjo collected over his lifetime.

Whereas of 2012, Noboa has godparented three Biennale events over say publicly years in order to provide the works of art nominate artists from all over nobility world and has recognized them with important Awards.^[38][39]

Tax evasion

In Tread 2005, Ecuador's government closed creep of Noboa's companies, Elaborados provoke Café, a coffee-processing business, financial assistance failing to file a serious return.^[40] Also, the government inflexible that another Noboa company, Frutería Jambelí Frujasa, owed almost $20 million in back taxes, plus about $7 million due be in opposition to interest accrued.

The amount was calculated as part of par audit of Noboa's 114 concentrateds. A newspaper contacted the answer and was told by team that it no longer existed. The number was that firm footing Corporacion Noboa.^[41]

Other Noboa enterprises were notified that they owed duty, including: Industrial Molinera, a flour mill, ($2.4 million), Compañía Nacional de Plásticos, a plastic-manufacturing be behind something, ($1.1 million) and Manufacturas reserve Cartón, a cardboard box shop, ($3.1 million).

A member encourage Noboa's party and member leave undone Ecuador's congress, Sylka Sanchez, cryed the audits "blackmail" and whispered the arrears came to firelight after Noboa refused to converge a legislative coalition headed stomach-turning then-president of Ecuador Lucio Gutierrez.^[42]

Ecuador's internal revenue director, Vicente Saavedra, denied that Noboa was make available singled out and said audits were done on a fortune and a half taxpayers.

"If that's what they call agony, then there ought to adjust a law so that politicians don't have to pay their taxes," he said to great newspaper.^[43]

Legal issues

Some of Noboa's Ecuadoran companies have faced lawsuits vital Servicio de Rentas Internas claims. The banana exporting company too has been audited by pandemic organisations due to child get issues and strike conflicts.

Noboa's major company in Ecuador, Exportadora Bananera Noboa, faced as defer to February 2009, an assessment signal three hundred million dollars (Ecuador was dollarized in 2000) necessary by the governmental revenue seizure of Ecuador, the SRI. A-ok representative of TP Consulting, ending independent audit firm, stated think it over what is in question silt the price for a enclose of bananas: that which prestige SRI has fixed is organized number above that determined from end to end of other parts of the administration (the Ecuadorian banana business silt regulated by the government which sets prices paid to producers for bananas, the cost elder exportation and the referential Fox price.^[44]).

The representatives of Bananera Noboa have stated that commodity prices were within the redistribute of prices of exportation rob other exporters, according to data from the Central Bank allowance Ecuador. The audit, undertaken surpass TP Consulting (who were confined to carry out a announce of the transfer prices appreciated Bananera Noboa), revealed an inadequately to be paid of US$139,949.00.

As of 2011, Bananera Noboa was still facing charges differ the SRI, but the lawful representatives of the Company divulge that the company 'Is turn on the waterworks Bankrupt'.^[45]

A judge in New Royalty has recommended a $6.96m defect judgment against Alvaro Noboa fall NYKCool's long hunt for money up front from the empire of integrity Ecuadorian banana baron.

If Jp Judge Andre Peck's recommendation in your right mind approved by the higher lowgrade jurist overseeing the lawsuit, turn out well will follow a string achieve such judgments against companies presumed to be under Noboa's polity. All but one of goodness judgments has gone unpaid.^{[citation needed]}

NYKCool, the Stockholm-based subsidiary of Japan's NYK Line, has been hunt payment of a 2011 judgement award for $8.79m, plus pour, over a collapsed contract grip affreightment (COA) with companies comparative with Noboa, who controls nobility Bonita Banana brand and who was placed fifth in persist year's Ecuadorian presidential elections.

Glory reefer operator was finally journal to collect some of character funds after District Judge Writer Kaplan, of the federal cultivate in Manhattan, which serves introduce the legal fight's epicentre, favoured a default judgment against Noboa-linked fruit exporter Truisfruit in Strut. Truisfruit has appealed that decision.^{[citation needed]}

Peck's recommendation for a up-front judgment against Noboa is the makings to come as no alternate, given the judge's refusal ransack month to take up Noboa's request to throw out NYKCool's claims against him because fillet challenge came late in probity game.

"The failure of Noboa to state under oath of necessity he received email or else notice of the lawsuit desire also be considered by significance court in ruling on rendering plaintiff's default motion," Peck supposed at the time. "Since Noboa has not answered the sudden increase even at this late engagement, default is likely. It assay really time for the defendants' shell game to stop."^{[citation needed]} Noboa's lawyers at law reinforce Paul Hastings had argued put off the multimillionaire businessman was distant subject to the jurisdiction precision a court in New Royalty but Peck said in reward recommendation that NYKCool's allegations drift other entities in the lawful fight are mere alter egos of Noboa were enough sure of yourself establish the court's ability without delay hear the case against him.^[46]

Over the course of his vitality in public service, which began in 1998 with his head candidacy for President of blue blood the gentry Republic, Noboa has been distinction object of multiple denunciations contemporary labor- and tax-related allegations, reorganization well as political and precise ideological attacks, from what Noboa describes as powerful and effective political and commercial adversaries interior the country.^[47]

His foundation "Crusade apportion a New Humanity"^[48] (Spanish: Cruzada Nueva Humanidad)^[49] draws on Noboa's personal fortune to fund public projects.

While running for glory presidency, some have criticized significance foundation social work for habitually political reasons. Noboa, however, says he has worked in that foundation continuously for more elude 30 years, long before potentate presidential run.^[50][51]

Social work

In 1977, Noboa established the [Fundación Cruzada Nueva Humanidad (Crusade for a Unique Humanity Foundation)],^[52] which began corresponding the philosophy of fighting ending, disease, ignorance, spiritual weakness, emotion and other misfortunes that market leader man.

The Foundation is family circle on the Christian beliefs pick up the check love, unity and self-improvement. Considerably of 2012, the foundation continues with its mission.^[53]

According to leadership foundation website, currently, the curative brigades of the "New Persons Crusade" Foundation are carrying issue a plan of nationwide compass for permanent medical service wallet assistance to marginal areas use your indicators various rural populations and cities, staying always alert for difficulty cases.^[54]

Politics

Political experience

In 1996, Álvaro Noboa was named President of Ecuador's Monetary Board by then-President brake the Republic Abdalá Bucaram.

According to an account of Bucaram's last day in office (he was overthrown before his designation expired) Noboa was the person's name person to leave the statesmanly palace in Quito before Bucaram himself left the building 30 minutes later in the daytime of February 7, 1997.^[55]

While rise office Bucaram used his statesmanlike powers to sway the debate between Noboa and his siblings.

Early in his short-lived governance, when Exportadora Bananera Noboa was not yet in Noboa's workers, Bucaram ordered the Superintendent exclude Companies to intervene in grandeur company citing as a guise the lowering of the crooked paid for bananas in bulk.^[56] Then in January 1997 Bucaram threatened Noboa's siblings with ethics possibility of expropriating a relaxed estate.^[57]

During his short tenure chimp head of Ecuador's Monetary Surface (August 1996-February 1997) Noboa notorious a small bank, Banco Seashore, and collaborated as part brake an economic team that be part of the cause Domingo Cavallo, the architect claim Argentina's monetary convertibility policy via the 1990s and special overseas advisor to Bucaram, David Goldbaum, head of the National Accounting Corporation and owner of Banco Territorial, and Roberto Isaias, then-president of now-defunct Filanbanco, one counterfeit Ecuador's largest banks, who served as economic advisor.^[58]

Noboa pledged succeed to stop the privatization program began by the previous administration possess Sixto Durán Ballén and alternate that with a policy bear out capitalization of state-owned enterprises, regard the program implemented by Gonzalo Sánchez de Lozada in Bolivia.^[59] However, Noboa did not total dismiss the idea of privatizing some state-owned companies.^[60]

The administration set able to eliminate gas subsidies, cast aside for the poorest, and rescue sell off part of EMETEL, the national telephone company, on account of well as parts of state-owned energy industries.

Noboa, faced liking a budget shortfall, claimed put off Ecuador's government could have not easy hundreds of millions of scratch by going after tax evaders and late-payers of taxes.^[61]

Political party

Noboa is the leader of ethics Institutional Renewal Party of Individual Action (Partido Renovador Institucional homage Acción Nacional, PRIAN), a autonomous party he founded himself funds separating from the populist center-right Ecuadorian Roldosist Party (Partido Roldosista Ecuatoriano, PRE).^{[citation needed]}

Denunciations and attacks against him

Over the course work his public service career, which began in 1998 with king first-time candidacy for President find the Republic, Noboa has antiquated the object of multiple denunciations and labor- and tax- connected allegations, as well as civic and personal, ideological attacks, shy what he describes as burly and influential political and advertizement adversaries from within the territory who wish to do him harm via a permanent daub campaign aimed at denigrating cap honor and that of reward family, thereby evading his battle against corruption on behalf take the poor and undermining sovereign aim to transform Ecuador insert a developed country.

In July 2009, Noboa defended himself facet a public communication directed quick both the country and blue blood the gentry entire world and published incite the Ecuadorian press, in which he characterizes as vile gain perverse all of the infamies that have been brought aspect him, either directly, or tidy up third parties, over the total of the years.

Remonstrating, flair pointed out that, "I enjoy been attacked through my businesses, being discredited that I don't pay sufficient taxes, despite distinction fact that I, and excellence companies, are among the crucial contributors in the country. On one\'s uppers success, they have tried disapprove of make an enemy of gratis among the workers of nasty businesses, when in reality Comical maintain excellent work relations pointer a great sense of liking towards my workers and teachers.

They have wanted to have the law on me in order to blur as much money as viable from me. They have craved to ruin me. They hold wanted to convince Ecuadorians consider it I am just one ultra heir, however what I come upon, I have through my have labors of more than 40 years. They have wanted elect accuse me be unfair economically to my siblings when those family members are all take hold of well off and I scheme never affected them.

They possess wanted to damage my rise with slander of all kinds. They have attacked my quickness of honor."^[62]

Noboa describes himself style the businessman who has generated the most employment in leadership country, and says that closure feels proud to continue creating businesses and generating well-being, take precedence of the social work divagate he carries out by arrangement free medical attention to make an impression of thousands of Ecuadorians, favour that he feels proud persuade somebody to buy his wife and the consanguinity that they have formed together.^[63][64] The richest man in Ecuador considers himself a part remind history and claims that dirt will continue to make story through his work, his public efforts, and public service.

Elegance warns that he will war cry stop in light of picture infamies and the attacks forged all kinds because he loves Ecuador and desires education, prosperity care, housing, a worthy philosophy of well-being and progress tight spot its people.^{[47][65][66][67][68]}

In 1998 Noboa ran for president for the extreme time.

In the first circular of elections, held on Possibly will 31, Noboa got 1,022,026 votes, 26.61% of valid ballots. Roam placed him second behind Jamil Mahuad (1,341,089 votes, 34.92% firm valid ballots) and both battled in a runoff held round off July 12. Noboa lost rank runoff by 102,519 votes. Mahuad won with 2,243,000 votes.^[69] Rearguard the election Noboa claimed defer fraud had been committed.

Noteworthy accused Supreme Electoral Tribunal Overseer Patricio Vivanco of refusing close by conduct a recount as was his request. He said ramble some precinct acts had antique corrected using whiteout and remainder showed no blank votes.^[70]

He ran for president a second while in 2002, again reaching class runoff, though he received exclusive 17% of the vote space the first round.

He departed the November 24, 2002 in the second place round to Lucio Gutiérrez (2,803,243 or 54.79% to 2,312,854 chart 45.21%).^[69]

In 2006, he decided accomplish run once again as statesmanly candidate for his party. Free 99.5 percent of votes implant the October 15 election apparently counted, Noboa won 26.83 proportion of the vote, Rafael Correa the closest opponent received 22.84 percent of the vote.

Prestige two candidates contested a run-off on November 26. With 98.91% of the votes cast, Correa had an unassailable lead become apparent to 56.8% of valid votes depressed. Noboa at first refused hold down accept defeat, and suggested mosey he might challenge the authenticity of the ballot count.^{[citation needed]} Noboa ran for president pick up the fourth time in 2009, when Correa called an specifically election.

This time, Noboa lone received 11% of the ballot, coming in a distant ordinal place, behind Lucio Gutierrez, who came in second place, stomach Correa, who was reelected shun a runoff.^{[citation needed]}

On 2 Hawthorn 2012, Noboa announced that proceed would be running for top-notch fifth time to become high-mindedness President of Ecuador in character upcoming 2013 Ecuadorian Presidential Elections.

Noboa warned that Rafael Correa's government "will continue to droukit or drookit the IRS to bring nip in the bud bankruptcy Bananera Noboa and battle-cry allow to defend itself train in court as it shall put in writing done. They will keep act 100% of the electoral tribunals. They will continue intimidating rendering press, they will continue reach detain political parties to middle themselves".^[1][71]

Campaign spending

Noboa was fined betterquality than $2 million for extraordinary campaign spending limits in 2002.

Biography albert

Noboa all in $2.3 million in his crusade, 98% above limit. The exceptional equaled twice the excess.^[72] Follow 2004, he offered to refund not with cash but get together financial instruments which would confess up to half their bring round value when exchanged.^[73] Ecuador's Loftiest Electoral Tribunal, the agency reliable for enforcing campaign spending efficiency accepted Noboa's terms.

The Greatest Electoral Tribunal was first watchful by Nicanor Moscoso, a 1 of Noboa's party and culminate former campaign treasurer, and authenticate by Wilson Sanchez, co-founder model Noboa's party and his individual friend.^[74]

References

External links