Coca-Cola FEMSA Announces New Business Structure and Organizational Changes
"This new business structure will provide us with the necessary flexibility to manage our business going forward and extend our track record of growth.
Aug 29 2011 --- Coca-Cola FEMSA, S.A.B. de C.V. ("Coca-Cola FEMSA" or the "Company"), the largest public bottler of Coca-Cola products in the world in terms of sales volume, announces the following business structure and organizational changes:
Ernesto Silva Almaguer, who is presently in charge of our Mexico division, will now extend his responsibilities. In addition to our Mexican operations, he will manage our Central American franchise territories in Guatemala, Nicaragua, Costa Rica, and Panama. These franchise territories will integrate our new Mexico and Central America division. Ernesto's considerable operating experience has been an important driver of our Mexico division's growth, maintaining a strong focus on profitability and enhancing the execution capabilities of our largest operation to realize its full potential. With more than 15 years of experience in our Company, he served as Chief Operating Officer of our Mercosur division, among other executive positions.
John Santa Maria Otazua, who is currently in charge of Strategic Planning and Commercial Development, will become the head of our new South America division. This new division will comprise our operations in Colombia, Venezuela, Brazil, and Argentina. John has played a key role in our Company's strategic planning processes over the past three years and has led our efforts to design and coordinate the implementation of innovative commercial and service models. He has more than 16 years of experience within our Company, during which time he served as Chief Operating Officer of our Mexican operations, among other executive positions.
Rafael Suarez Olaguibel, who is currently in charge of the Latincentro division, will become head of Special Projects at the corporate level. Rafael's track record during his five years as head of this division has been fundamental to the successful operation of these franchise territories and their improved profitability in a complex environment. He has more than 25 years of experience in Coca-Cola FEMSA, during which time he served as Commercial Planning and Strategic Development Director, and Chief Operating Officer of our Mexican and Argentinean operations, among other executive positions.
"This new business structure will provide us with the necessary flexibility to manage our business going forward and extend our track record of growth. Coca-Cola FEMSA has constantly worked to develop the talent and capabilities to achieve a highly efficient organization, well prepared to continue on its path of growth and capture the potential of the beverage industry, relying on our most valuable asset, our wide pool of talented professionals. We are confident that John and Ernesto will ensure the continued growth of our operations and that Rafael will continue to contribute his experience to develop our Company's capabilities," said Carlos Salazar Lomelin, Chief Executive Officer of the Company.
In accordance with this new business structure, as of the third quarter of 2011, our reporting segments will be Mexico and Central America, and South America.
