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 of FEMSA
He is currently the CEO of FEMSA, a position he has held since November 1, 2025. Throughout his career, José Antonio has distinguished himself through his strategic focus, drive for innovation, talent development, and leadership across FEMSA’s three business units: retail, beverages, and digital. In 2011, he joined Cervecería Cuauhtémoc Moctezuma HEINEKEN as Sales and Operations Manager. Subsequently, he served as General Manager of FEMSA’s Plastics Division, Director of Strategic Planning for OXXO and FEMSA Comercio, Director of Coca-Cola FEMSA’s Central America Division, and CEO of Spin.
During his tenure, he doubled the value of Plásticos Técnicos Mexicanos, an organization he internationalized and introduced to the automotive market. As Director of the Central America Division of Coca-Cola FEMSA, between 2015 and 2018 he transformed the operation in Guatemala, laying the foundation for growth, even doubling the company’s size in the region.
In 2021, he led Digital@FEMSA, now Spin, transforming it from a startup with a small team into a company with over 1,000 employees. He spearheaded the launch and operation of Spin by OXXO, which currently has more than 9.4 million active users, and Spin Premia, with 26.6 million active users, as well as the consolidation of the payments business through OXXO Pay and the acquisition of NetPay.
In September 2023, he was appointed CEO of FEMSA Proximity and Health, where he promoted operational and financial efficiency by integrating the Proximity Americas (OXXO Mexico, OXXO Latin America, OXXO USA, and Bara), Proximity Europe (Valora), Health, and Mobility (OXXO Gas) divisions into a single entity. He spearheaded OXXO’s growth in Brazil, where he recently finalized the acquisition of 100% of the business, which began as a joint venture, by FEMSA. He led our expansion into the United States through the purchase of 249 stores, primarily in Texas. Similarly, he directed the acquisition of a majority stake in Caffenio, a leading coffee producer in Mexico. At Proximidad y Salud, he built a diverse management team, rich in backgrounds, nationalities, and experiences, fostering a collaborative and developmental environment.
Jose Antonio has a solid academic background, as an Industrial Engineer from Tecnológico de Monterrey and a Master of Business Administration from Stanford University Graduate School of Business.ustrial Engineering from Tecnológico de Monterrey.
Ian Marcel Craig García
Chief Executive Officer of Coca-Cola FEMSA
Mr. 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 ITESM, an MBA from the University of Chicago Booth School of Business, and a Master’s degree in International Commercial Law from ITESM.
Juan Carlos Guillermety
Chief Executive Officer of Spin
In November 2023, Juan Carlos Guillermety became Chief Executive Officer of Spin. Having worked in the financial industry for over 15 years, he has held executive and management roles in planning, business development, and innovation, among others. He also has experience at consulting, banking, and investment with BCG and JPMorgan. He was Vice President and General Manager of Nu plus and Marketplace at Nubank for more than four years. He previously spent more than ten years in key management roles at VISA, including key Director of Emerging Digital Markets in Latin America and Vice President of Products and Innovation. He holds degrees in industrial engineering from Purdue University in the United States and Universidad de los Andes in Colombia. He holds an MBA at Northwestern University’s Kellogg School of Management and completed executive studies there and at Harvard Business School in the United States.
Carlos Arroyo Rico
Director of OXXO Mexico
Carlos Arroyo Rico is the Director of OXXO Mexico, where he leads the chain’s operational and commercial strategy, driving initiatives focused on customer experience, innovation, and sustainable business growth.
With a solid track record in global and national companies, Arroyo has held key positions at Walmart, where he served as Senior Vice President and General Manager of Walmart Central America, and later as Senior Vice President and Chief Operating Officer of Walmart Mexico. He was also General Manager at Grupo Diagnóstico PROA. Previously, he worked at The Coca-Cola Company in various strategic roles.
Carlos Arroyo holds a Bachelor’s degree in Business Administration from Tecnológico de Monterrey, a Master’s degree in Business Administration from ESADE Business School, and a diploma in Marketing from Tecnológico de Monterrey.
Constantino Spas Montesinos
Director of the Americas & Movility Division
As the current Director of the Americas & Movility Division, he holds responsibility for overseeing operations and spearheading the accelerated growth of convenience stores and service stations throughout numerous markets across the Americas, serving millions of costumers daily.
Prior to his current role, Constantino held pivotal executive positions, including CEO of FEMSA Strategic Business and CFO of Coca-Cola FEMSA. In these capacities, he played a crucial role in driving significant financial and operational performance enhancements.
His extensive impact also extends to the food and beverage industry, where he held influential leadership roles at esteemed companies such as Grupo Mavesa, Empresas Polar in Venezuela, Kraft Foods, SAB Miller, and Bacardi, contributing significantly across the Latin American landscape.
Jacobo Caller Celestino
Director of the Health and Multi-Format Division
Jacobo Caller joined FEMSA in November 2023, where he currently serves as Director of the Health and Multi-Format Division. He is an executive with extensive international experience in global companies. From 2020 to the present, he has served as President and CEO of Food Delivery Brands Group in Spain.
Previously, he was Senior Vice President and General Manager of International Retail at Walgreens Boots Alliance, as well as Chief Operating Officer of Toys R Us Europe, where he also served as Managing Director for Spain and Portugal. His career also includes leadership roles at Farmatodo and Carrefour.
Michael Mueller
CEO Valora
He joined Valora in 2012, initially as Chief Financial Officer of Valora Holding AG, and has been CEO since 2014. In his previous roles, he was owner and CEO of Rubus Capital Management, CEO and board member of Jelmoli Holding AG, and CEO of GVO Asset Management.
Previously, he was a Mergers and Acquisitions advisor in investment banking at Goldman Sachs and worked for Bain & Company on strategic transformation and restructuring programs.
Martín Arias Yániz
Chief Financial Officer (CFO) of FEMSA
Since April 2024, he is the Chief Financial Officer of FEMSA. From 2003 to 2014, he had various responsibilities for mergers and acquisitions, or M&A, as well as Corporate Treasury and Strategic Planning at Coca-Cola FEMSA. From 2014 to 2019, he was Director of Strategic Planning and Corporate Development at FEMSA. In 2019, he left FEMSA and worked as a financial and strategic advisor and board member for several companies, including Copa Airlines, Grand Bay Group, focused on consumer paper products, and Hacienda El Limon, which focuses on real estate. In addition, during this time, he continued to serve as an external advisor to FEMSA and worked on all transactions relating to FEMSA Forward. From 1992 to 1996, he worked at Cleary Gottlieb Steen & Hamilton as a corporate attorney in New York, specializing in Latin America M&A and capital markets. Subsequently, he worked at Morgan Stanley as an Associate, Vice President and Executive Director in Latin American M&A based in New York from 1996 to 2003, specializing in the consumer, telecom and utilities industries.
Roberto Campa Cifrián
Director of Corporate Affairs of FEMSA
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.
Gerardo Estrada Attolini
Director of Administration and Corporate Control of FEMSA
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 finance functions of Mexican companies in the financial and industrial sectors. He holds an Accounting degree and an MBA from Tecnológico de Monterrey.
Enrique González Zorrilla
Projects Director
Enrique brings over two decades of diverse leadership experience within FEMSA. Joining FEMSA in 2000 after 4 years at Grupo Alfa and 6 years of strategy consulting at BCG, Enrique began his FEMSA journey at OXXO, where he led e-commerce and technology initiatives. He then was part of the team that accelerated the growth and transformation of OXXO, as Supply Chain Director for 5 years and National Store Operations for 6 years. Enrique has been involved in developing new business platforms, leading the creation of the Health Division in Mexico and Latin America, as well as the Envoy Solutions distribution platform in the U.S., which is now Bradyplus where he serves at the Board. Currently he leads some FEMSA enabling businesses and strategic projects. He received his MBA from Wharton Business School and his Bachelor’s degree in Mechanical Engineering from Tecnológico de Monterrey.
Jessica Ponce de León Gaitán
Chief Sustainability Officer of FEMSA
She was appointed as Chief Sustainability Officer of FEMSA effective May 1, 2024. With over 20 years of experience, she has worked in logistics, as well as in the mass consumer products industries and in projects in different countries of Latin America, both in FEMSA and other companies. She has held different roles including commercial, operations, human resources, strategic planning, and supply chain areas. Before her current position she was General Director of Solistica, a logistics operator with presence in 7 Latin American countries and with more than 22,000 employees, there she held the position of Global Transportation Director from 2020 to 2022. She holds a degree in Industrial Engineering from Tecnológico de Monterrey.
Raymundo Yutani Vela
Director of Human Resources
He was appointed Vice-President of Human Resources at FEMSA in 2018. He joined FEMSA Comercio in 1999 as Director of Human Resources, a position he held until 2014. Between 2014 and 2018, he was Director of Human Resources at Coca-Cola FEMSA. Before joining the company, he was Director of Human Resources North at Banca Serfín, today Santander. He is a graduate of the Public Accountant career and has a master’s degree in Business Administration from the Regiomontana University. Additionally, he completed the AD1 program at IPADE and is certified as a Coach by Newfield Consulting.
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.