Mr. León Falic has been a member of our board of directors since 2010. He is President of Duty Free Americas, Inc., the largest duty-free operator in North America, which he acquired with his brothers in 2001. He is also a principal and the President of UETA Inc., a Panamanian wholesale distributor of luxury goods. Mr. Falic and his brothers also maintain significant investments in high-end fashion. In 2007, Mr. Falic and his brothers acquired a worldwide license to manufacture fragrances and cosmetics under the Perry Ellis brand name. They also acquired Christian Lacroix, the French fashion design house, in 2002, and Hard Candy LLC and Urban Decay, cosmetics manufacturers, in 2005, all from Louis Vuitton Moet Hennessy. In 1990, Mr. Falic partnered with Softbank and the Steinmetz Group to create proprietary software related to the cross-border movement of luxury goods. Mr. Falic also owns a store dedicated to the sale of high-end jewelry and watches.