Corporate Governance

Informe anual FEMSA

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.

Edificio FEMSA

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.

José Antonio Fernández Carbajal

Executive Chairman of the Board of Directors and Chief Executive Officer (CEO) of FEMSA

He began his career at FEMSA in 1988, serving in various positions, including CEO of OXXO. He was appointed CEO of FEMSA in 1995 and Chairman of the Board in 2001, serving in both positions until December 2013. He is also Chairman of the Board of Coca-Cola FEMSA, chairman of the board of trustees of Fundación FEMSA, A.C., and board member of Industrias Peñoles, S.A.B. de C.V. He has been a member of the Board of Trustees of Tecnológico de Monterrey since 1990, where he served as Chairman of the Board from 2012 to 2023. In 2017, he was elected as a member of MIT Corporation, where he participates in the Student Life Comittee and the Undergraduate and Graduate Education Committee. He is also member of the Board of Global Advisors of the Council on Foreign Relations. He holds a degree in Industrial Engineering and Systems from Tecnológico de Monterrey, where he earned an MBA in 1978 and has been a professor for more than 20 years.

Jose Antonio Fernández Garza-Lagüera

Chief Executive Officer, Proximity and Health Division

He assumed the role of Chief Executive Officer of the Proximity and Health Division in november 2023, following his role as CEO of FEMSA Digital since 2022. He began his career in FEMCO in 2018 as Head of Strategic Planning for OXXO Mexico. Before joining FEMCO, he was General Manager of Coca‑Cola FEMSA’s Central America division from 2015 to 2018. Prior to that, he worked as CEO of FEMSA’s plastics division, Plásticos Técnicos Mexicanos, and manager of sales and operations in México City at HEINEKEN México. Prior to his work at HEINEKEN, he co-founded and ran Vestige Capital, a search fund based in Mexico seeking to acquire and operate small and medium-sized companies in Mexico. While at Vestige, he co-led the acquisition of BOMI Group de México a third-party logistic provider for the Mexican healthcare industry. He has taught a class on entrepreneurship and was the founding chairman of the board of the Entrepreneurship Institute in Tecnológico de Monterrey. He received his MBA from Stanford University Graduate School of Business and his Bachelor’s degree in Industrial 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 Digital@FEMSA

In November 2023, Juan Carlos Guillermety became Chief Executive Officer of Digital@FEMSA. 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.

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.

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:

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.

Available documents

Principios Orientadores para Fornecedores (Português)