MEXICO: Coca-Cola FEMSA lines up new CEO
Coca-Cola FEMSA is owned by FEMSA
Coca-Cola FEMSA has appointed a new CEO after the current incumbent was appointed head of the Mexican bottler's parent company.
Carlos Salazar Lomelin will move to CEO of FEMSA, the Mexico-based beverage giant that owns Coca-Cola FEMSA. John Santa María Otazua, Coca-Cola FEMSA's current COO, will step up to CEO of the unit.
The changes will take place on 1 January, Coca-Cola FEMSA said yesterday (24 October).
Lomelin spent 14 years as CEO of Coca-Cola FEMSA, overseeing the company's expansion from Mexico and Argentina to ten countries. Under his watch last year, Coca-Cola FEMSA bought a Coca-Cola bottler in the Philippines, its first acquisition outside Latin America.
Lomelin will replace FEMSA's current CEO, José Antonio Fernández Carbajal, who will become the executive chairman of FEMSA's board.
"We acknowledge and appreciate Carlos Salazar's leadership and dedication over these past 14 years. His relentless drive and energy have permeated the entire company," said José Antonio Fernández Carbajal, chairman of the board of directors of Coca-Cola FEMSA.
As well as COO, Otazua has served as COO of Coca-Cola FEMSA's Mexico unit and strategic planning and commercial director for the company.
Coca-Cola FEMSA is owned by FEMSA, a Monterrey, Mexico-based beverage company that also owns a chain of convenience stores. Heineken bought FEMSA's beer unit in 2010 in a stock swap that left FEMSA with a 20% share in the Dutch brewer.
Coca-Cola FEMSA announced its year-to-date results yesterday, with profits for the nine months down 7%.
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