| | AUGUST 20239IN FOCUSTERRATEST NAMES JOSE MONTERO RUIZ DE MOLINA AS NEW CEOosé Montero Ruiz de Molina has been named the new CEO of TERRATEST, a well-known international engineering and construction firm that specializes in geotechnical engineering, specific foundations, ground improvement, and environmental solutions. In order to advance the company's commercial strategy and maximize its potential in its key markets--the United States, Spain, Eastern Europe, and Latin America--José Montero joins TERRATEST.Enrique Torres, the current Chairman and CEO, will step down in favor of José Montero after 35 years with the organization. Torres, who will continue to be closely involved with TERRATEST as non-executive Chairman, will assist José Montero in the leadership transition and take part in the company's business development initiatives. This is a strategic choice made by the company's largest shareholder, the Spanish private equity firm Nazca Capital, which has also put forth José Montero as the new CEO.The sale of TERRATEST's micro tunneling division to Rimon Drilling, the largest private water distributor and water infrastructure contractor in Israel, recently took place as part of the company's new business plan, which aims to focus on both consolidated markets like the United States and the European Union and on its core business of geotechnical engineering and ground improvement services.In addition to managing teams and operations in more than 50 countries, José Montero has over 30 years of experience in the business sector and has held key leadership roles in multinational corporations. In his most recent role as Chief Operating Officer of Velocity Global, a pioneer in PEO and Employer of Record services, José supervised the company's international growth. He was the company's founding President and first President before that. The Montero Group is a multinational strategic consulting company with an emphasis on positioning, branding, and growth strategies. In his most recent role as COO of Velocity Global, a pioneer in PEO and Employer of Record services, José supervised the company's international growthJ
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