FEMSA Forward - Focused Leadership in Retail, Beverages & Digital
February 23 2024 - 8:36AM
UK Regulatory
FEMSA Forward - Focused Leadership in Retail, Beverages &
Digital
FEMSA announces a redefined corporate organization and
senior leadership changes
MONTERREY, Mexico, Feb. 23, 2024 (GLOBE
NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or
the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced today
that, as part of its commitment to the FEMSA Forward
strategy, it is implementing changes in its corporate
organization.
Consistent with the FEMSA Forward
strategy, each of our three core business verticals will
continue strengthening their already robust teams to ensure they
capture the significant growth opportunities ahead of them. Their
size and complexity require a strong team, dedicated to the
execution of their strategies, and the achievement of their
business objectives. Our FEMSA corporate organization will focus on
setting the overall strategic direction and providing guidance and
support for the core businesses, including all major strategic,
financial, and capital market-related matters.
In this context, and having largely concluded
the transformational transactions stemming from FEMSA
Forward, today we are announcing two changes in FEMSA’s
senior leadership team.
Francisco Camacho Beltrán, FEMSA’s Chief
Corporate Officer, has decided to complete his cycle at the Company
and pursue new professional challenges, stepping down from his role
effective April 30, 2024. Since joining the Company in 2020,
Francisco successfully led most of the corporate functions of
FEMSA, while also playing a pivotal role in defining FEMSA’s
Strategic Priorities Framework, ensuring its alignment with the new
FEMSA Forward strategy, and coordinating the development
of the current long-range plans of FEMSA and its business units. He
leaves the Company with a clear roadmap for sustained growth, and
in an enviable position to meet all the ambitious goals that the
Company has set in its sustainability efforts.
Eugenio Garza y Garza, FEMSA’s Chief Financial
Officer (“CFO”), has also decided to finish his cycle at the
Company and step down as CFO effective April 30, 2024. Since
joining FEMSA in 2018, Eugenio has played an instrumental role in
the strategic and corporate development of FEMSA, including the
design and implementation of the FEMSA Forward strategy in
record time, the successful divestment of FEMSA’s stake in
Heineken, JRD, and Envoy, as well as numerous other
benchmark-setting M&A and capital market transactions. His
leadership, financial acumen, and strategic vision have been key to
the continued success and financial strength of FEMSA and its
Business Units.
Martin Arias Yaniz has been appointed Chief
Financial Officer, effective April 30, 2024. Martin has been an
integral part of FEMSA’s finance and strategy team for 25 years. He
began working with FEMSA in 1999 as a strategic advisor before
formally joining FEMSA in 2003, occupying different leadership
positions in the Corporate Development, Strategic Planning, and
Treasury teams at both Coca-Cola FEMSA and FEMSA. From 2014 until
2019, he was FEMSA’s Director of Strategic Planning and Corporate
Development. Since his departure from this role, Martin has
continued as a close and trusted advisor of the Company for
strategic projects, including FEMSA Forward and the
implementation of its related transactions. He will serve as
FEMSA’s CFO on an interim basis, and FEMSA will conduct a thorough
search process to appoint a permanent replacement in due course.
FEMSA’s CFO will report to José Antonio Fernández Carbajal, FEMSA’s
Executive Chairman and CEO.
Martin will work closely with Francisco and
Eugenio over the next two months to facilitate a seamless handover.
In addition, during this period, Eugenio will launch the
implementation of the capital allocation elements of the FEMSA
Forward strategy that was announced on February 15,
transitioning to Martin in due course to ensure its continued
success. Following his departure from the CFO position, Eugenio
will remain working with FEMSA in an advisory role for key
strategic projects.
The Company expresses its deepest gratitude to
Francisco and Eugenio for their many invaluable contributions and
wishes them continued success in their future endeavors.
About FEMSA
FEMSA is a company that creates economic and social value through
companies and institutions and strives to be the best employer and
neighbor to the communities in which it operates. Across its
business units, FEMSA has more than 350,000 employees in 18
countries. FEMSA is a member of the Dow Jones Sustainability MILA
Pacific Alliance, the FTSE4Good Emerging Index and the Mexican
Stock Exchange Sustainability Index: S&P/BMV Total México ESG,
among other indexes that evaluate its sustainability
performance.
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