Mexican retail and beverages company Fomento Económico Mexicanos (Femsa) is undergoing significant changes within its management team as part of its strategic plan to focus on core divisions.
Management Reorganization
Femsa announced that Chief Financial Officer Eugenio Garza y Garza will be stepping down at the end of April. He will be temporarily replaced by Martin Arias Yaniz, a seasoned member of Femsa’s finance and strategy team with 25 years of experience. Yaniz has previously served as the Director of Strategic Planning and Corporate Development from 2014 to 2019.
The company stated that a comprehensive search process will be carried out to find a permanent replacement for the CFO, who will report directly to CEO José Antonio Fernández Carbajal. Garza y Garza, instrumental in Femsa’s recent strategic restructuring called “Femsa Forward,” which involved divesting assets such as its stake in Heineken, Jetro Restaurant Depot, and Envoy, will remain in an advisory capacity with Femsa.
Additionally, Chief Corporate Officer Francisco Camacho Beltrán has chosen to depart from Femsa at the end of April. Having joined in 2020, Camacho Beltrán leaves behind a solid growth strategy for the company’s future endeavors.
This reorganization comes as Femsa sharpens its focus on core retail, soft-drinks, and digital operations.