The Mexican beverage group Femsa, the world's second largest bottler of Coke products and beer producer, yesterday announced a series of top level management changes.

"These changes represent the next step in the evolution of Femsa in our pursuit of excellence as the premier beverage company in Latin America," Federico Reyes, Femsa's chief financial officer, told analysts during a conference call.

The changes include the appointment of Alfredo Martinez, head of Femsa's beer operations, as deputy chief executive officer of Femsa.

Gerardo Estrada, Femsa Cerveza's administrative director, has been made chief financial officer for the beer group, replacing Sergio Saenz, who is moving on to strategic procurement.

Finally, Eduardo Padilla will become Femsa's retail segment's chief executive officer.