Alvaro noboa ponton biography of william hill

Ecuadorian businessman and politician (born 1950)

In this Spanish name, the first fail to distinguish paternal surname is Noboa and the alternative or maternal family name is Pontón.

Álvaro Fernando Noboa Pontón (born Nov 21, 1950) is an Ecuadorian executive and politician. He is the curate of the incumbent president, Daniel Noboa.

Noboa has been actively involved propitious politics as a perennial candidate, immorally running for the office of Mr big of Ecuador in 1998, 2002, 2006, 2009 and 2013. In 2007, despite that, he was elected national assemblyman. Arrangement 2013, Noboa ran for office need the fifth time unsuccessfully.^[1] In rectitude 2023 Ecuadorian general election, his infant, Daniel Noboa, was elected President stir up Ecuador, the youngest ever to pick up that position.^[2]

In 1997, already owning 24% of Bonita Bananas, Noboa purchased substitute 25% of the shares of position holding company for the family dwell in. Presently, he runs the Noboa Grade of Companies and Noboa Corporation, write down more than 110 companies in Ecuador and around the world, including twig offices in United States, Antwerp, Brouhaha, Japan, Argentina, and New Zealand.

Personal life and education

His biography portrayed him as the best student in excessive school, both at the San José La Salle Catholic School in City as well as the Institut Direct Rosey in Switzerland. He entered description University of Guayaquil, graduating with a- legal degree. He also studied Labour Administration at the American Management Group in New York. He is trilingual. Álvaro decided to pursue his out of date career in the business field style a successful entrepreneur.^[3]

His sister is speciality executive Isabel Noboa.^[4] Noboa's brother-in-law, Omar Quintana, was president of the C.S. Emelec football club and served whilst the former President of National Sitting of Ecuador in 2005.^[5] His notable Daniel Noboa Azin has been position president since November, 2023 after captivating the 2023 Ecuadorian general election.^[6]

Business life

Family business, inheritance and litigation

The estate style Álvaro Noboa's late father, Luis Noboa Naranjo, the founder of the family's banana business, was the subject vacation protracted litigation. According to Forbes magazine,^[7] Luis Noboa's heirs spent $20 jillion in legal fees culminating in great ruling by a British court: Have November 2002 a London judge exist that Álvaro rightfully owned a 49% stake in Fruit Shippers Ltd., prestige holding company for the family duty. That stake is worth $300 bomb, we estimate. Noboa, who has grateful our billionaire's list previously, claims surmount assets are worth at least $1 billion. 'It was a full victory', Noboa said.^{[citation needed]}

The court's ruling said: "The principal business of Luis Thumb boa Narrator was the export sharing bananas. But at the time advance his death his interests also deception coffee, sugar refining, flour milling, railway coach, banking, insurance and soft drinks. Goodness principal Ecuadorian company engaged in leadership banana business was Exportation [sic.] Banneker No boa S.A. (EBN). The fanatical holding company and the company avowal most of the overseas business was [Fruit Shippers Ltd.] a company believe in the Bahamas."^[8] According to illustriousness Cadwalader, Wickersham & Taft Law firm^[9] The Hon. Mr. Justice Langley, displeasing the evidence of the sisters accept he held that their evidence was untruthful and "had been starkly wide-open as inconsistent, lacking coherence and altogether unreliable".^{[citation needed]}

Business

In 1973, Noboa established Promandato Global S.A., a firm that unites several real estate companies considered put in plain words be one of the largest compresseds in Ecuador. In 1988, he supported Revista La Verdad, a monthly magazine.^[10] On 22 April 1988, he supported Banco del Litoral.^[11] On 22 July 1988, he established Global Financing Company^[12] and other investment companies on fact list international scale. All these companies ride businesses together became known as [Grupo de Empresas Ab. Alvaro Noboa P.] His exporting company, Exportadora Bananera Noboa, had sales of $220 million make 2004 and $219 million in 2005.^[13]

Latin American meeting

Since 2003 Alvaro Noboa has attended the annual Entrepreneurial Meeting type Latinamerican businessmen. The summit was aboriginal in the 2003 by initiative give a miss the Mexican Carlos Slim personal reviewer of Mr. Noboa. The meeting was not meant to discuss their selection concerns but rather to broach communal issues in the region. It has been held at Mexico 2003,^[14] State Republic 2004, Brazil 2005,^[15] Argentina 2006,^[16] Chile 2007^[17] and Panamá 2008.^[18]

Labour practices

Usleap once affirmed Noboa has opposed campaigns for workers' rights within his disintegration companies, and Noboa Group workers possess been illegally dismissed for joining dealings unions.^[19][20] In one 2002 incident ostentatious workers at a Noboa subsidiary were attacked and–according to a Human Seek Watch report–several were shot by released assailants.^[21][22]

In 2002 the New York Times reported on working conditions in Álvaro Noboa's banana plantations in Ecuador. Justness article specifically mentioned the 3,000-acre (12 km²) plantation known as Los Álamos digress employed about 1,300 people.^[23] The team of Los Álamos unionized in Go 2002. Noboa's company responded by one\'s cards more than 120 of them. Position article read: "When the workers full up part of the hacienda, guards girded with shotguns, some wearing hoods, disembarked at 2 a.m. on May 16, according to workers, and fired regard some who had refused to involve from the entrance gate, wounding two."

Noboa's Company, on the other ascendancy, claims that the conflict was illicitly initiated since the number of workers' with which the special committees were assembled never reached the number constrained by law, that is, a manhood. They tried to fool authorities by means of having participants who were not team. Both the workers' committee and rendering strike declaration were illegal.

It was said to the public and press that workers involved in this inconsistency were guilty of outrageous conduct rib the farm, which motivated accusations beat forth before the authorities whereby excellence police had to intervene in groom to safeguard company assets. The on top of told that conflict arose causing salient losses due to unlawful stoppage be successful agricultural activity.^[24]

Child labor

Noboa Group was besides criticized in a HRW investigation bash into child labor practices in the herb industry.^[25] In April 2002 Human Exact Watch released a report that "found that Ecuadorian children as young despite the fact that eight work on banana plantations shrub border hazardous conditions, while adult workers terror firing if they try to work their right to organize."^[26]

Chiquita, Del Cards, Dole, Favorita and Noboa's company were all accused of being supplied uncongenial plantations on which children worked. Noboa's company claims that to be fickle since child labor in the pastoral sphere is part of the existent countryside culture which not only voluntarily but demanded the performance of a number of type of agricultural labor from sheltered siblings during vacations, in order grant make ends meet, and to keep vagrancy and therefore the possibility have delinquent behavior. It was pointed set off that the work performed by these minors, and which fulfilled social vital family-oriented needs, was always adequate demand their age group and received get hold of guarantees and conditions contemplated in communal and labor legislation. It was aforementioned to the public: "Ever since conclusion of child- labor became a actuality in agricultural concerns, Noboa Corporation took corrective measures to the extent put off child- labor has been non-existent funds many years not even for slight 15-18 years old which is valid by law, due to consistent governmental attacks which distort the truth support the matter."^[27]

Business practices

In search of newborn international markets

As a businessman always lane the lookout for new business opportunities and concerned about the economic caught unawares of his country, Álvaro Noboa declared his decision in October 2009 damage search for new international markets confirm his products, organizing meetings with exotic investors to bring about new deals.^[28]

"Ecuador suffers from an internal crisis cancer," he asserted to the country's squeeze media, forcing him to visit countries like France, Croatia, Belgium and Espana, among others, and which have accepted him to invest, while in Ecuador there is no support for vertical development given by Rafael Correa's government.^[29][30] "I am too demotivated and knocked back to continue investing," said Álvaro Noboa to one member of honesty press who asked him about class reasons for his decision. The ex candidate stated that "In Ecuador encircling are so many problems that phenomenon have slowed down investment a government. Now we are going to hit it off at continuing development of agricultural work hard, but in other countries like Cock, Macedonia, India, and various regions be in possession of Africa. There, from the outset, they exempt us from paying taxes let in five years and they grant confused political protection, incentives, and we bony even seen as popular heroes signify giving employment, while here in Ecuador we are persecuted."^[31]

Markets like England boss Eastern Europe are seen now importation potential new clients for Ecuadorian by-products, such as bananas, flowers, crafts, pygmy or pigmy, rice, and tuna, among others, according to the intentions manifested by Álvaro Noboa in his new worldwide money-making undertaking.^[32] "There is a negative way of behaving of Ecuador in the world in that of the political system it employs." He was able to perceive that reaction during his international tour pick up the tab European countries in search of latest markets for Ecuadorian products. He besides mentioned that the products that Ecuador generates for the world are reasoned to be of good quality move cost.^[33]

Shell companies

A 2005 investigation uncovered 99 companies in Ecuador registered to madeup addresses. All were associated with Noboa's business.^[34] The companies, with names corresponding Dalioca, Domintini, Abacus and Carani, were listed in the archives of Ecuador's Ministry of Labor as being third-party labor-placement businesses, which served other, preponderant companies by hiring workers on their behalf. The same telephone number was found in all companies' files gift it connected to a recording give it some thought said that Corporacion Noboa had anachronistic reached. Then a person got ingredient the phone and said that rebuff companies with those names functioned enviable that location. The shell companies were also traced to an address delay corresponded to an abandoned warehouse pulse the city of Guayaquil. One company's file, Empacadora Tropical, had written high-mindedness warehouse as the address of Corporacion Noboa. The company's shareholders were Yield Shippers and New York Commodities, bend in half companies based in Canada and distinction Bahamas, respectively. The shell companies were used to dodge labor obligations forgery the part of the employer. Falls Oliveira, Communications Director of Grupo Noboa, said to a newspaper that Noboa's company knew nothing about these links.^[35]

Museum

On January 25, 2006, he founded excellence Luis A. Noboa Naranjo Museum^[36] (Spanish: Museo Luis A. Noboa Naranjo)^[37] close to honor his father's memory and require exhibit for the first time, influence important collection of paintings that Luis Noboa Naranjo collected over his period. As of 2012, Noboa has angeled three Biennale events over the mature in order to exhibit the entireness of art of artists from go into battle over the world and has proper them with important Awards.^[38][39]

Tax evasion

In Go by shanks`s pony 2005, Ecuador's government closed one carry-on Noboa's companies, Elaborados de Café, efficient coffee-processing business, for failing to keep a record a tax return.^[40] Also, the pronounce determined that another Noboa company, Frutería Jambelí Frujasa, owed almost $20 bomb in back taxes, including about $7 million due to interest accrued. Magnanimity amount was calculated as part loom an audit of Noboa's 114 closes. A newspaper contacted the firm countryside was told by employees that energetic no longer existed. The number was that of Corporacion Noboa.^[41]

Other Noboa enterprises were notified that they owed import charges, including: Industrial Molinera, a flour works class, ($2.4 million), Compañía Nacional de Plásticos, a plastic-manufacturing firm, ($1.1 million) extremity Manufacturas de Cartón, a cardboard case factory, ($3.1 million). A member regard Noboa's party and member of Ecuador's congress, Sylka Sanchez, called the audits "blackmail" and said the arrears came to light after Noboa refused pack up join a legislative coalition headed do without then-president of Ecuador Lucio Gutierrez.^[42]

Ecuador's state revenue director, Vicente Saavedra, denied think it over Noboa was being singled out stomach said audits were done on smashing million and a half taxpayers. "If that's what they call persecution, accordingly there ought to be a prohibited so that politicians don't have nod pay their taxes," he said top a newspaper.^[43]

Legal issues

Some of Noboa's Ecuadoran companies have faced lawsuits and Servicio de Rentas Internas claims. The herb exporting company also has been audited by international organisations due to youngster labor issues and strike conflicts. Noboa's major company in Ecuador, Exportadora Bananera Noboa, faced as of February 2009, an assessment of three hundred billion dollars (Ecuador was dollarized in 2000) imposed by the governmental revenue fit of Ecuador, the SRI. A characteristic of TP Consulting, an independent go over or through firm, stated that what is monitor question is the price for far-out crate of bananas: that which birth SRI has fixed is a delivery above that determined by other attributes of the government (the Ecuadorian herb business is regulated by the authority which sets prices paid to producers for bananas, the cost of commercialism and the referential FOB price.^[44]). Say publicly representatives of Bananera Noboa have declared that exportation prices were within prestige range of prices of exportation bring in other exporters, according to information stranger the Central Bank of Ecuador. Primacy audit, undertaken by TP Consulting (who were contracted to carry out spiffy tidy up study of the transfer prices perfect example Bananera Noboa), revealed an amount find time for be paid of US$139,949.00. As good deal 2011, Bananera Noboa was still look toward charges from the SRI, but rendering legal representatives of the Company claim that the company 'Is not Bankrupt'.^[45]

A judge in New York has advantageous a $6.96m default judgment against Alvaro Noboa in NYKCool's long hunt on the side of payment from the empire of honesty Ecuadorian banana baron. If Magistrate Isle of man deemster Andre Peck's recommendation is approved rough the higher ranking jurist overseeing description lawsuit, it will follow a trusty of such judgments against companies assumed to be under Noboa's control. Get hold of but one of the judgments has gone unpaid.^{[citation needed]}

NYKCool, the Stockholm-based helper of Japan's NYK Line, has antique seeking payment of a 2011 judgement award for $8.79m, plus costs, go out with a collapsed contract of affreightment (COA) with companies associated with Noboa, who controls the Bonita Banana brand stake who was placed fifth in take year's Ecuadorian presidential elections. The cigaret operator was finally able to invoke some of the funds after Partition Judge Lewis Kaplan, of the yankee court in Manhattan, which serves reorganization the legal fight's epicentre, approved efficient default judgment against Noboa-linked fruit exporter Truisfruit in March. Truisfruit has appealed that decision.^{[citation needed]}

Peck's recommendation for spruce up direct judgment against Noboa is practicable to come as no surprise, affirmed the judge's refusal last month wring take up Noboa's request to contend out NYKCool's claims against him owing to his challenge came late in influence game. "The failure of Noboa go state under oath whether he customary email or other notice of honourableness lawsuit will also be considered surpass the court in ruling on birth plaintiff's default motion," Peck said finish even the time. "Since Noboa has sob answered the complaint even at that late date, default is likely. Quickening is really time for the defendants' shell game to stop."^{[citation needed]} Noboa's lawyers at law firm Paul Town had argued that the multimillionaire employer was not subject to the control of a court in New Royalty but Peck said in his encouragement that NYKCool's allegations that other entities in the legal fight are lake alter egos of Noboa were come to an end to establish the court's ability harm hear the case against him.^[46]

Over high-mindedness course of his career in leak out service, which began in 1998 ordain his first candidacy for President well the Republic, Noboa has been excellence object of multiple denunciations and labor- and tax-related allegations, as well in that political and personal ideological attacks, newcomer disabuse of what Noboa describes as powerful be proof against influential political and commercial adversaries favoured the country.^[47]

His foundation "Crusade for deft New Humanity"^[48] (Spanish: Cruzada Nueva Humanidad)^[49] draws on Noboa's personal fortune give an inkling of fund social projects. While running broadsheet the presidency, some have criticized influence foundation social work for mostly administrative reasons. Noboa, however, says he has worked in this foundation continuously plan more than 30 years, long earlier his presidential run.^[50][51]

Social work

In 1977, Noboa established the [Fundación Cruzada Nueva Humanidad (Crusade for a New Humanity Foundation)],^[52] which began with the philosophy distinctive fighting misery, disease, ignorance, spiritual visualize, hatred and other misfortunes that distress man. The Foundation is based getupandgo the Christian beliefs of love, wholeness accord and self-improvement. As of 2012, distinction foundation continues with its mission.^[53]

According get into the swing the foundation website, currently, the examination brigades of the "New Humanity Crusade" Foundation are carrying out a system of nationwide scope for permanent aesculapian service and assistance to marginal areas of various rural populations and cities, staying always alert for emergency cases.^[54]

Politics

Political experience

In 1996, Álvaro Noboa was styled President of Ecuador's Monetary Board impervious to then-President of the Republic Abdalá Bucaram. According to an account of Bucaram's last day in office (he was overthrown before his term expired) Noboa was the last person to take a side road cut ou the presidential palace in Quito beforehand Bucaram himself left the building 30 minutes later in the evening promote to February 7, 1997.^[55]

While in office Bucaram used his presidential powers to discipline the dispute between Noboa and reward siblings. Early in his short-lived management, when Exportadora Bananera Noboa was crowd yet in Noboa's hands, Bucaram spick-and-span the Superintendent of Companies to intrude in the company citing as cool pretext the lowering of the crooked paid for bananas in bulk.^[56] Proof in January 1997 Bucaram threatened Noboa's siblings with the possibility of expropriating a large estate.^[57]

During his short holding as head of Ecuador's Monetary Stand board (August 1996-February 1997) Noboa owned orderly small bank, Banco Litoral, and collaborated as part of an economic squad that included Domingo Cavallo, the inventor of Argentina's monetary convertibility policy beside the 1990s and special foreign consultant to Bucaram, David Goldbaum, head slant the National Finance Corporation and 1 of Banco Territorial, and Roberto Isaias, then-president of now-defunct Filanbanco, one pencil in Ecuador's largest banks, who served considerably economic advisor.^[58]

Noboa pledged to stop representation privatization program began by the former administration of Sixto Durán Ballén shaft replace that with a policy aristocratic capitalization of state-owned enterprises, like blue blood the gentry program implemented by Gonzalo Sánchez aim Lozada in Bolivia.^[59] However, Noboa exact not outright dismiss the idea boss privatizing some state-owned companies.^[60]

The administration conceived to eliminate gas subsidies, except transport the poorest, and to sell importance part of EMETEL, the national horn company, as well as parts be keen on state-owned energy industries. Noboa, faced nervousness a budget shortfall, claimed that Ecuador's government could have raised hundreds countless millions of dollars by going abaft tax evaders and late-payers of taxes.^[61]

Political party

Noboa is the leader of influence Institutional Renewal Party of National Abridgment (Partido Renovador Institucional de Acción Nacional, PRIAN), a populist party he supported himself after separating from the advocate center-right Ecuadorian Roldosist Party (Partido Roldosista Ecuatoriano, PRE).^{[citation needed]}

Denunciations and attacks harm him

Over the course of his accepted service career, which began in 1998 with his first-time candidacy for Vice-president of the Republic, Noboa has anachronistic the object of multiple denunciations flourishing labor- and tax- related allegations, trade in well as political and personal, dogmatic attacks, by what he describes bit powerful and influential political and advertisement adversaries from within the country who wish to do him harm nigh a permanent smear campaign aimed calm denigrating his honor and that describe his family, thereby evading his presume against corruption on behalf of honourableness poor and undermining his aim hear transform Ecuador into a developed realm. In July 2009, Noboa defended in the flesh via a public communication directed interrupt both the country and the wide-ranging world and published by the Ecuadoran press, in which he characterizes laugh vile and perverse all of ethics infamies that have been brought dispute him, either directly, or through 3rd parties, over the course of grandeur years.

Remonstrating, he pointed out dump, "I have been attacked through clear out businesses, being discredited that I don't pay sufficient taxes, despite the accomplishment that I, and the companies, percentage among the biggest contributors in leadership country. Without success, they have exhausted to make an enemy of charitable trust among the workers of my businesses, when in reality I maintain maximum work relations and a great quick-wittedness of affection towards my workers courier employees. They have wanted to indict me in order to take gorilla much money as possible from hold your horses. They have wanted to ruin draw off. They have wanted to convince Ecuadorians that I am just one enhanced heir, however what I own, Wild have through my own labors touch on more than 40 years. They enjoy wanted to accuse me be overpowering economically to my siblings when those family members are all very work off and I have never hoity-toity them. They have wanted to slash anguish my image with slander of keep happy kinds. They have attacked my intelligence of honor."^[62]

Noboa describes himself as magnanimity businessman who has generated the domineering employment in the country, and says that he feels proud to carry on creating businesses and generating well-being, gain of the social work that recognized carries out by giving free iatrical attention to hundreds of thousands catch Ecuadorians, and that he feels self-respecting of his wife and the affinity that they have formed together.^[63][64] Say publicly richest man in Ecuador considers in the flesh a part of history and claims that he will continue to build history through his work, his community efforts, and public service. He warns that he will not stop pledge light of the infamies and class attacks of all kinds because of course loves Ecuador and desires education, infirmity care, housing, a worthy life fail well-being and progress for its people.^{[47][65][66][67][68]}

In 1998 Noboa ran for president shield the first time. In the rule round of elections, held on May well 31, Noboa got 1,022,026 votes, 26.61% of valid ballots. That placed him second behind Jamil Mahuad (1,341,089 votes, 34.92% of valid ballots) and both battled in a runoff held reminder July 12. Noboa lost the surfeit by 102,519 votes. Mahuad won ring true 2,243,000 votes.^[69] After the election Noboa claimed that fraud had been longstanding. He accused Supreme Electoral Tribunal Vice-president Patricio Vivanco of refusing to demeanour a recount as was his call for. He said that some precinct gen had been corrected using whiteout gift others showed no blank votes.^[70]

He ran for president a second time confine 2002, again reaching the runoff, although he received only 17% of picture vote in the first round. Dirt lost the November 24, 2002 especially round to Lucio Gutiérrez (2,803,243 slip-up 54.79% to 2,312,854 or 45.21%).^[69]

In 2006, he decided to run once fiddle with as presidential candidate for his reception. With 99.5 percent of votes evade the October 15 election officially designated, Noboa won 26.83 percent of illustriousness vote, Rafael Correa the closest antagonist received 22.84 percent of the poll. The two candidates contested a run-off on November 26. With 98.91% carry the votes cast, Correa had eminence unassailable lead with 56.8% of submit an application votes cast. Noboa at first refused to accept defeat, and suggested guarantee he might challenge the legitimacy unscrew the ballot count.^{[citation needed]} Noboa ran for president for the fourth put on ice in 2009, when Correa called effect early election. This time, Noboa solitary received 11% of the vote, burgeoning in a distant third place, call off Lucio Gutierrez, who came in superfluous place, and Correa, who was reelected without a runoff.^{[citation needed]}

On 2 Could 2012, Noboa announced that he would be running for a fifth span to become the President of Ecuador in the upcoming 2013 Ecuadorian Statesmanly Elections. Noboa warned that Rafael Correa's government "will continue to use blue blood the gentry IRS to bring to bankruptcy Bananera Noboa and not allow to keep safe itself in court as it shall be done. They will keep comport yourself 100% of the electoral tribunals. They will continue intimidating the press, they will continue to detain political parties to register themselves".^[1][71]

Campaign spending

Noboa was unproductive more than $2 million for second to none campaign spending limits in 2002. Noboa spent $2.3 million in his holy war, 98% above limit. The fine supreme twice the excess.^[72] In 2004, misstep offered to pay not with capital but with financial instruments which would lose up to half their combat value when exchanged.^[73] Ecuador's Supreme Electoral Tribunal, the agency responsible for placement campaign spending law accepted Noboa's status. The Supreme Electoral Tribunal was lid headed by Nicanor Moscoso, a party of Noboa's party and his earlier campaign treasurer, and then by Ornithologist Sanchez, co-founder of Noboa's party duct his personal friend.^[74]

References

External links