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 Fundaci√≥n FEMSA, A.C., and board member of Industrias Pe√Īoles, S.A.B. de C.V. He has been a member of the Board of Trustees of Tecnol√≥gico 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 Tecnol√≥gico de Monterrey, where he earned an MBA in 1978 and has been a professor for more than 20 years.

Jose Antonio Fern√°ndez Garza-Lag√ľera

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‚ÄĎCola FEMSA‚Äôs Central America division from 2015 to 2018. Prior to that, he worked as CEO of FEMSA‚Äôs plastics division, Pl√°sticos T√©cnicos Mexicanos, and manager of sales and operations in M√©xico City at HEINEKEN M√©xico. 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 M√©xico 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 Tecnol√≥gico de Monterrey. He received his MBA from Stanford University Graduate School of Business and his Bachelor‚Äôs degree in Industrial Engineering from Tecnol√≥gico 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.

Martín Arias Yániz

Chief Financial Officer (CFO) of FEMSA

Mart√≠n Arias Y√°niz has been named Chief Financial Officer (CFO) of FEMSA, effective April 30, 2024. Martin has been an integral member of FEMSA’s financial team for 25 years. He began collaborating with FEMSA in 1999 as a financial advisor, formally joining the Company in 2003, occupying various leadership positions in the areas of corporate development, strategic planning and treasury, both at Coca-Cola FEMSA and at FEMSA. From 2014 to 2019, Mart√≠n was Director of Strategic Planning and Corporate Development at FEMSA. Thereafter, he has continued as an advisor to the Company for strategic projects, including FEMSA Forward and the implementation of related transactions. Mart√≠n will serve as CFO on an interim basis, and FEMSA will conduct a careful executive search process to recruit his permanent replacement in due course.

Roberto Campa Cifri√°n

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 An√°huac, 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 Gonz√°lez Zorrilla

Projects Director

Enrique joined FEMSA in the year 2000, after a consultant career. He has been involved in distribution operations in OXXO, OXXO stores, the development of the pharmacy services locations platform, as well as the development of Envoy Solution, LLC’s distribution platform in the U.S.

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

C√≥digo de √Čtica (Portugu√™s)

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 ‚Äč‚Äčwe 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)