By Anthony HarrupMEXICO CITY -- Mexican retail and beverages company Fomento Económico Mexicanos is reorganizing its management after making rapid progress in implementing its strategic plan to focus on three core divisions. Femsa said it will conduct "a thorough search process to appoint a permanent replacement in due course," and that the CFO will report to chief executive José Antonio Fernández Carbajal. Garza y Garza will continue to work with Femsa in an advisory role, the company said. Chief corporate officer Francisco Camacho Beltrán has also decided to leave the company at the end of April. After joining Femsa in 2020, Camacho Beltrán "leaves the company with a clear roadmap for sustained growth," Femsa said.

Source: Wall Street Journal February 24, 2024 02:55 UTC