Jose Antonio Fernández Garza-Lagüera, Femsa's new CEO, stressed that the company will balance long-term vision with daily urgency without sacrificing growth. Representing the fifth generation of the founding family, he leads a transformation focused on sustainability and innovation after 135 years of history. The firm reported solid third-quarter performance despite challenges.
Fomento Económico Mexicano (Femsa) marks 135 years of history, operating the largest Coca-Cola bottler, the Oxxo chain, and other key businesses. Jose Antonio Fernández Garza-Lagüera, appointed new CEO, represents the fifth generation of the founding family and took the role in a leadership planning process to ensure strategic continuity in consumption, health, and financial services.
Over the last 36 months, Femsa divested nearly 11 billion dollars in non-strategic assets, strengthening its financial position under the Femsa Forward strategy, presented in 2023. This initiative prioritizes sustainability, innovation, and financial inclusion, advancing toward operations with renewable energy and responsible practices.
'Thinking in decades while acting in days allows Femsa to balance a long-term vision with a sense of urgency,' stated Fernández Garza-Lagüera. The company avoids sacrificing its growth and competitive position for immediate gains.
In the third quarter, Femsa demonstrated resilience across all business lines amid a weak consumption environment and minimal exchange rate impacts. Although bottler volume decreased marginally due to high comparison bases and weather effects, price increases, transport and marketing efficiencies boosted net sales and operating results, according to Ve por Más.
Femsa's history began in 1890 with the founding of Cervecería Cuauhtémoc in Monterrey, with just 72 employees. Today, it is one of Latin America's largest employers, with over 392,000 workers in 18 countries across the Americas and Europe. Milestones include the 1980s merger, 1990s expansion as a Coca-Cola bottler, and recent acquisitions like Valora in Europe and 249 stores in Texas, United States.