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. Aditionally, 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 20 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

After 11 years of professional experience in different companies, José Antonio Fernández Carbajal began his career, in 1987, at FEMSA serving various positions in its different businesses, including CEO of OXXO.

He was appointed CEO of FEMSA in 1995 and Chairman of the Board in 2001, serving both positions until January 2014. He is also Chairman of the Board of Coca-Cola FEMSA.

In 2010, he was appointed Vice-President of Heineken Holding NV’s Board of Directors and Chairman of Heineken’s Americas Committee, which oversees the strategic direction of business in the Americas and evaluates new business opportunities in the region.

Since 2012, Mr. Fernández is also Chairman of the Board of Tecnológico de Monterrey, where he served as Vice Chairman since 1997.

In 2017, he was elected as a full-term member of Massachusetts Institute of Technology (MIT) Corporation, where he contributes in the Dean for Student Life and Dean for Undergraduate Education committees.

Currently, he also participates as a board member of Industrias Peñoles.

He holds a degree in Industrial Engineering and Systems from Tecnológico de Monterrey and in 1978, he earned an MBA from that institution. For more than 20 years, he has been professor at the institution.

Eduardo Padilla Silva

Chief Executive Officer (CEO)

Mr. Padilla joined FEMSA in 1997 and was named to his current position in January 2018. Previously he served as Chief Financial and Corporate Officer of FEMSA, CEO of FEMSA Comercio, CEO of FEMSA Strategic Procurement, and FEMSA’s Planning and Control Officer. Mr. Padilla holds a Mechanical Engineering degree from ITESM, an MBA from Cornell University and executive management studies at IPADE.

Javier Gerardo Astaburuaga Sanjines

Vice-President of Corporate Development

Mr. Astaburuaga joined FEMSA in 1982. His roles in the company have included co-CEO of FEMSA Cerveza, Director of Sales for north region of Mexico, CFO of FEMSA Cerveza, and Chief Financial and Corporate Officer of FEMSA. He was appointed to his current position in April 2015. Mr. Astaburuaga holds an accounting degree from ITESM and is licensed as a certified public accountant.

Alfonso Garza Garza

Vice-President of Strategic Businesses

Mr. Garza joined FEMSA in 1985 and held various positions including CEO of FEMSA Empaques. In 2009 he was appointed to his current position. He is vice-chairman of the executive commission of the National President of the Employers Confederation of Mexico (Coparmex). He is member of the Board of Directors FEMSA, ITESM, Grupo Nutec, S.A. de C.V. and American School Foundation of Monterrey, A.C. and he is an alternate member of the Board of Directors of Coca-Cola FEMSA. Mr. Garza earned a Bachelor’s degree in Industrial Engineering from ITESM and an MBA at IPADE.

Roberto Campa Cifrián

Corporate Affairs Director

He joined FEMSA in 2019, after a long professional career in the public, private and social sectors. His positions include those of Secretary of Labor and Social Welfare of the Federal Government; Undersecretary of the Interior; Federal Consumer Attorney; representative in the Legislative Assembly of the Federal District and Federal Deputy. He has a Law Degree from Universidad Anáhuac.

José González Ornelas

Director of Administration and Corporate Control

Mr. González joined FEMSA in 1973 and assumed his current position in 2001. His previous roles have included CFO of FEMSA Cerveza, Director of Planning and Corporate Development of FEMSA, and CEO of FEMSA Logística. He serves as Secretary of the Audit Committee of both FEMSA’s and Coca-Cola FEMSA’s Boards of Directors, and is a member of the Board of Productora de Papel, S.A. He holds an accounting degree from Universidad Autónoma de Nuevo León and completed postgraduate studies in Business Administration from IPADE.

John Anthony Santa Maria Otazua

Chief Executive Officer (CEO) of Coca-Cola FEMSA

Mr. Santa Maria was appointed to his current position in 2014, having joined Coca-Cola FEMSA in 1995 and having served in several senior management positions since then, including COO of the company’s Mexico Division, and Strategic Planning and Commercial Development Officer. Mr. Santa Maria holds a degree in Business Administration and an MBA with a major in Finance from Southern Methodist University.

Daniel Alberto Rodríguez Cofré

Chief Executive Officer (CEO) of FEMSA Comercio

Mr. Rodríguez joined FEMSA in 2015 as Chief Financial and Corporate Officer and was named to his current position in January 2016. Prior to joining the company he was CFO and then CEO of CENCOSUD (Centros Comerciales Sudamericanos, S.A.), among other senior finance and management positions in Latin America, Europe and Africa. He is an alternate member of the Boards of Coca-Cola FEMSA and FEMSA. Mr. Rodríguez holds a forest engineering degree from Austral University of Chile and an MBA from Adolfo Ibañez University.

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. Also, we request our goods and services suppliers to stick to the Guiding Principles for Suppliers of FEMSA, which communicate what we expect from them in terms of labor rights, environment, community, ethics and values; in other words, how they manage their areas of sustainability.

Available documents