At FEMSA, we follow the highest standards of corporate governance and ethical business practices. We have in place rigorous, accurate and reliable practices for disclosing information and delivering financial transparency and accountability. Our corporate practices comply with the laws of all countries where we operate.
We also comply with all applicable standards, rules and regulations in Mexico and in the United States, including the Securities Market Law and the Sarbanes-Oxley Act. Additionally, we also take into account the recommendations of the Code of Best Corporate Practices of the Business Coordinating Council (Consejo Coordinador Empresarial).
Board of Directors
FEMSA’s Board of Directors is responsible for establishing the company’s corporate strategy, defining and overseeing the implementation of its vision and values, and approving related-party transactions, including those outside the ordinary course of business. Our Board is comprised of 15 members, who are supported by a Secretary and his deputy, none of whom are members of the Board. According to our bylaws and the Securities Market Law, at least 25% of the members of our Board of Directors are independent.
Executive Team
The executive team is focused on driving business growth by creating economic, social and environmental value for the stakeholders. Each of our executive leaders has significant professional experience within the industries related to our business.
Jose Antonio Fernández Garza-Lagüera
Chief Executive Officer
Jose Antonio joined Cervecería Cuauhtémoc Moctezuma (HEINEKEN MÉXICO) in 2011 as Sales and Operations Manager. From there, he rose through several management roles across FEMSA’s Business Units, including as Director of Strategic Planning at OXXO and FEMSA Comercio, as well as CEO of FEMSA’s Plastics division, CEO of Coca-Cola FEMSA Central America, CEO of Spin, and his last position as CEO of FEMSA Proximity & Health. In this role, Jose Antonio led a team of more than 180,000 collaborators and had responsibility for an operation that comprises more than 28,000 Proximity stores across 11 countries in the Americas and Europe, over 4,300 drugstores in four Latin American markets, and more than 540 fuel stations in Mexico. Jose Antonio has a bachelor’s degree in industrial engineering from Tecnológico de Monterrey, and an MBA from Stanford University Graduate School of Business.
Ian Craig
Chief Executive Officer, Coca-Cola FEMSA
Ian Craig joined Coca-Cola FEMSA in 2003 and was appointed to his current position in 2023. With over 27 years of experience in the beverage industry, he previously served in several senior management positions, including Chief Operating Officer of Brazil, Chief Operating Officer of Argentina, CFO and Strategic Planning Director of South America Division, CFO, Planning and Corporate Affairs Director of Mercosur Region, and Corporate Finance and Treasury Director of Coca-Cola FEMSA. Mr. Craig earned a bachelor’s degree in industrial engineering and systems from Tecnológico de Monterrey, an MBA from the University of Chicago Booth School of Business, and a master’s degree in international Commercial Law from Tecnológico de Monterrey.
Carlos Arroyo Rico
Chief Executive Officer, OXXO Mexico
Carlos Arroyo Rico is the Director of OXXO Mexico, responsible for leading the chain’s operational and commercial strategy with a focus on customer experience, innovation, and sustainable growth. He brings extensive leadership experience from roles at Walmart, where he served as Senior Vice President and General Manager for Central America and later as Senior Vice President and Chief Operating Officer in Mexico, as well as from his tenure as General Manager at Grupo Diagnóstico PROA and earlier strategic positions at The CocaCola Company. He holds a bachelor’s degree in business administration and a Marketing diploma from Tecnológico de Monterrey, along with an MBA from ESADE Business School.
Rodrigo García Jacques
Chief Executive Officer, Spin
Rodrigo García Jacques was appointed CEO of SPIN, FEMSA’s digital ecosystem, in 2026. In this role, he leads the development and execution of SPIN, focused on advancing digital and financial solutions that strengthen customer engagement in close collaboration with OXXO México. Previously, he served as Chief Strategy Officer of SPIN, where he played a key role in defining the strategy and development of FEMSA’s digital ecosystem, contributing to the growth of its platforms and the expansion of digital services across the Company’s businesses. He has extensive experience in strategy, digital transformation, and business development, having led initiatives aimed at integrating technology, financial services, and customer platforms to support FEMSA’s growth and innovation agenda. He holds a Bachelor’s degree in Chemical Engineering from Tecnológico de Monterrey and an MBA from IPADE Business School.
Constantino Spas Montesinos
Chief Executive Officer, Americas and Mobility Division
As Chief Executive of the Americas and Mobility Division, he oversees operations and leads the accelerated expansion of convenience stores and service stations across multiple markets in the Americas, serving millions of customers each day. His prior experience includes key executive roles such as CEO of FEMSA Strategic Businesses and CFO of Coca-Cola FEMSA, where he contributed to major improvements in financial and operational performance. He has also held influential leadership positions in the food and beverage sector at companies including Grupo Mavesa, Empresas Polar, Kraft Foods, SAB Miller, and Bacardi, leaving a significant mark across the Latin American region.
Jacobo Caller Celestino
Chief Executive Officer, Health and Multi-Format Division
Jacobo Caller joined FEMSA in November 2023 and currently leads the Health and MultiFormat Division. He brings broad international experience from global companies, most recently serving as President and CEO of Food Delivery Brands Group in Spain. His previous roles include Senior Vice President and General Manager of International Retail at Walgreens Boots Alliance, Chief Operating Officer of Toys R Us Europe, where he also served as Managing Director for Spain and Portugal, as well as leadership positions at Farmatodo and Carrefour.
Michael Mueller
Chief Executive Officer, FEMSA Europe
Michael joined Valora in 2012 as Chief Financial Officer of Valora Holding AG and has served as CEO since 2014. His earlier leadership experience includes roles as owner and Managing Director of Rubus Capital Management, CEO and board member of Jelmoli Holding AG, and CEO of GVO Asset Management. Before that, he worked in investment banking at Goldman Sachs as an M&A advisor and at Bain & Company on strategic transformation and restructuring initiatives.
Martín Arias Yániz
Chief Administration and Finance Officer
Martin Arias Yániz has been appointed Chief Financial Officer (CFO) of FEMSA, effective April 30, 2024. Martin has been an integral member of FEMSA’s finance team for 25 years. He began collaborating with FEMSA in 1999 as a financial advisor, formally joining the Company in 2003, holding various leadership positions in the areas of corporate development, strategic planning and treasury at both Coca-Cola FEMSA and FEMSA. From 2014 until 2019, Martín was FEMSA’s Director of Strategic Planning and Corporate Development. Thereafter, he continued as an advisor to the Company for strategic projects, including FEMSA Forward and the implementation of related transactions.
Sara Robles Romero
Chief Human Resources Officer
Sara Robles Romero has served as Human Resources Director of FEMSA since January 1, 2026. She joined the company in 2023 as Human Resources Director for the Proximity and Health Division. With more than 25 years of experience in human resources, she has led organizational transformation and talent strategies across Europe, Latin America, and Africa. Prior to joining FEMSA, she spent over two decades at Danone, where she held several leadership positions including Global Vice President of Organizational Development, Vice President of Human Resources for Africa, Human Resources Director for North Latin America, and Human Resources Director for Argentina and other markets in the region. She holds a Law degree from the University of Granada and an MBA from ESADE Business School.
Roberto Campa Cifrián
Chief Corporate Affairs Officer
He joined FEMSA in 2019, after a long career in the public, private, and social sectors. He has served in the federal government of Mexico as Secretary of Labor and Social Welfare, Undersecretary of the Interior, and Head of the Federal Consumer Protection Agency. He has also served as a representative in the Mexico City Legislative Assembly and as a federal congressional representative. He holds a law degree from Universidad Anáhuac, where he is also a professor of macroeconomic theory and President of the Federation of Student Societies.
Jessica Ponce de León Gaitán
Chief Sustainability Officer
As of May 1st, 2024, Jessica Ponce is FEMSA’s Chief Sustainability Officer. She has over 20 years of experience. She has worked in the logistics industry, as well as in the FMCG industry and on projects in various countries in Latin America, both within FEMSA and in companies outside the group. She has worked in several functions including commercial, operations, human resources, strategic planning and supply chain. Prior to her current position, she was Chief Executive Officer of Solistica, a logistics operator with presence in 7 Latin American countries and over 22,000 collaborators, where she also held the position of Global Transportation Director from 2020 to 2022. She holds a degree in industrial and systems engineering from Tecnológico de Monterrey.
Gerardo Estrada Attolini
Chief Administration and Control Officer
He joined FEMSA in 2000 and was appointed to his current position in 2020. Previously, he served as Chief Financial Officer of FEMSA Cerveza and Corporate Finance Vice President of FEMSA. Prior to FEMSA, he served in various executive level positions in the financial and industrial sectors of Mexican companies. He holds an accounting degree and an MBA from Tecnológico de Monterrey.
Code of Ethics
Our Code of Ethics is the basis of FEMSA’s responsible business conduct, which is distinguished by our way of acting with respect, honesty and integrity. The code establishes the fundamental principles and standards that guide our ethical behavior in our relations with our shareholders, customers, suppliers, authorities, civil organizations, environmental, community and everyone who interacts with FEMSA. It also indicates the mechanisms to follow in the case of reporting any breach, conduct or practice that does not comply with the Code of Ethics and corporate policies.
The code, approved by the Board of Directors, applies to members of the Board and employees in all the countries where we operate.
Available documents
Código de Ética (Português)
Documentos disponíveis
Corporate Policies
In addition to the Code of Ethics, we have Corporate Policies which are an essential part of our corporate governance. There we establish the guidelines we should follow to conduct ourselves and develop with integrity and responsibility, becoming in a reference of our Culture.
These policies are mandatory for FEMSA and all its employees, and for its compliance we have established the required controls to prevent, identify, investigate, sanction and remedy any possible risk of violation.
At FEMSA we are committed to the values we preach, which is why we share the following Corporate Policies with our stakeholders:
Políticas Corporativas (Português)
Supplier Guiding Principles
The mission of FEMSA is the simultaneous creation of economic and social value, therefore we seek that our operations and those of our suppliers are conducted with ethics and integrity, based on responsible business policies, principles and practices that comply with applicable legislation and best practices.
The Suppliers Guiding Principles were prepared based on FEMSA’s Code of Ethics and Corporate Policies and contain the minimum expectations that we required our suppliers to manage in key areas of Human and Labor Rights, Sustainability, Culture of Lawfulness, Information Security; therefore, it is the supplier’s responsibility, in its relationship with FEMSA, to adopt the necessary methods and practices to comply with the Guiding Principles contained in this document.