FEMSA Announces Senior Leadership Succession Plan
16 October 2021 - 08:08AM
FEMSA Announces Senior Leadership Succession Plan
Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the
“Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced today that
in accordance with its senior leadership succession planning
process, and consistent with previously established timeframes,
Eduardo Padilla will retire from his position as FEMSA’s Chief
Executive Officer on January 1, 2022. Accordingly, FEMSA’s Board of
Directors has appointed Daniel Rodríguez Cofré, currently CEO of
FEMSA Comercio, to become FEMSA’s Chief Executive Officer as of
January 1, 2022.
Eduardo has had an exceptional trajectory of
almost 25 years at FEMSA, joining as head of strategic planning in
1997. He served as Chief Executive Officer of FEMSA Comercio for 16
years, during which he led the effort to turn OXXO into the leading
proximity retailer in Mexico and Latin America. Eduardo helped
FEMSA Comercio enter the drugstore business in Mexico, Chile, and
Colombia, as well as consolidate its position in the retail fuel
business in Mexico. In 2016 he became FEMSA’s Chief Corporate
Officer and on January 1, 2018, he was appointed Chief Executive
Officer of FEMSA. During his tenure as CEO, FEMSA improved its
results and competitive position across operations, developed
compelling new business verticals, and consolidated key
partnerships even as the company became more agile as it navigated
the challenges brought on by the global pandemic. And throughout
his various roles at FEMSA, Eduardo acted consistently with his
life purpose of “developing and transforming people and
organizations”. In doing so, he strengthened FEMSA’s culture by
focusing first on its people and its customers, while maintaining a
global view.
Daniel Rodríguez Cofré joined FEMSA in 2015 as
Chief Corporate Officer and, since January of 2016, he has been CEO
of FEMSA Comercio. Prior to FEMSA, Daniel occupied several senior
finance positions at Shell, and he was CFO and CEO at Cencosud. At
FEMSA Comercio, Daniel helped OXXO grow its leadership position and
set the foundations for its digital transformation in Mexico, while
developing compelling growth opportunities in South America. During
his tenure, FEMSA’s Health Division evolved into a powerful
regional platform, while the Fuel operations consolidated their
position in Mexico. He has also participated as alternate member in
the Board of Directors of FEMSA and Coca-Cola FEMSA.
Daniel will bring his expertise and leadership
to guide FEMSA in this new stage of economic and social value
creation, driving growth and innovation along with sustainability,
inclusion, and diversity, and with a continued focus on the
development of its people, their families, and the communities in
which FEMSA operates.
Daniel’s appointment represents one more step in
FEMSA’s long-term talent and succession planning process. His
replacement as FEMSA Comercio’s CEO will be named on a later
date.
About FEMSAFEMSA 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. It participates in the retail
industry through FEMSA Comercio, comprising a Proximity Division
operating OXXO, a small-format store chain, a Health Division,
which includes drugstores and related activities, and a Fuel
Division, which operates the OXXO Gas chain of retail service
stations. In the beverage industry, it participates through
Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola
products in the world by volume; and in the beer industry, as the
second largest shareholder of Heineken, one of the world’s leading
brewers with operations in over 70 countries. FEMSA also
participates in the logistics and distribution industry through its
Strategic Business Unit, which additionally provides point-of-sale
refrigeration and plastic solutions to its business units and
third-party clients. Across its business units, FEMSA has more than
320,000 employees in 13 countries. FEMSA is a member of the Dow
Jones Sustainability MILA Pacific Alliance, the FTSE4Good Emerging
Index and the Mexican Stock Exchange Sustainability Index, among
other indexes that evaluate its sustainability performance.
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