FEMSA’s Board of Directors is responsible for determining the Company’s corporate strategy; defining and supervising the implementation of its vision and values; and approving related operations, including those outside the ordinary course of business.
During 2020, the Board of Directors was composed of 18 directors, of which 78% were men and 22% were women, assisted by one Secretary (non-member) and one Alternate Secretary (non-member). In accordance with our bylaws and the Mexican Securities Law, at least 25% of the members of our Board of Directors are independent. Directors are appointed for a term of one year and are eligible for re-election after the completion of their term in office. The By-Laws of the Company provide that the holders of the FEMSA B Shares may elect at least eleven Directors and the holders of the FEMSA D Shares may elect five Directors.
Since 2014, José Antonio Fernández has presided as Executive Chairman of the Board of Directors.
Our Board of Directors is the following:
SERIES B DIRECTORS
José Antonio Fernández Carbajal C
Executive Chairman of the Board of FEMSA
Director since 1984 and Executive Chairman since 2014
Alternate: Federico Reyes García C, I
Javier Gerardo Astaburuaga Sanjines C
Business Consultant
Since 2006
Bárbara Garza Lagüera Gonda
Private investor and president of the acquisitions committee of the FEMSA Collection
Since 1998
Alternate: Eva María Garza Lagüera Gonda
Mariana Garza Lagüera Gonda
Private investor
Since 1999
José Fernando Calderón Rojas
Chief Executive Officer and chairman of the Board of Directors of Franca Servicios, S.A. de C.V., Servicios Administrativos de Monterrey, S.A. de C.V., Regio Franca, S.A. de C.V., and Franca Industrias, S.A. de C.V.
Since 1984
Alternate: Francisco José Calderón Rojas
Alfonso Garza Garza
Chief Executive Officer of FEMSA Strategic Businesses
Since 2001
Alternate: Juan Carlos Garza Garza
Bertha Paula Michel González
Professor at Universidad Nacional Autónoma de México
Since 2020
Alternate: Maximino José Michel González
Alberto Bailleres González
Chairman of the Board of Directors of Industria Peñoles S.A.B. de C.V., Grupo Nacional Provincial, S.A.B., Fresnillo Plc, Grupo Palacio de Hierro, S.A.B. de C.V., Grupo Profuturo, S.A.B. de C.V. and subsidiaries, Controladora Petrobal, S.A. de C.V., Energía BAL, S.A. de C.V., Energía Eléctrica BAL, S.A. de C.V., and Tane, S.A. de C.V.
Since 1989
Alternate: Alejandro Bailleres Gual
Francisco Javier Fernández Carbajal C
Chief Executive Officer of Servicios Administrativos Contry, S.A. de C.V.
Since 2004
Paulina Garza Lagüera Gonda
Private investor
Since 2009
Alfonso de Angoitia Noriega I
Co-Chief Executive Officer of Grupo Televisa, S.A.B.
Since 2015
M. Eduardo Padilla Silva
Chief Executive Officer of FEMSA
Since 2014
Ricardo Ernesto Saldívar Escajadillo B, C, I
Private investor
Since 2006
Alternate: Francisco Zambrano Rodríguez I
Series D Directors
Víctor Alberto Tiburcio Celorio A, I
Independent consultant
Since 2018
Michael Larson C, I
Chief Investment Officer for William H. Gates III
Since 2010
Robert Edwin Denham B, C, I
Partner at Munger, Tolles & Olson LLP
Since 2001
Alfonso González Migoya A, I
Business consultant and managing partner of Acumen Empresarial, S.A. de C.V.
Since 2006
Alternate: Enrique F. Senior Hernández C, I
Ricardo Guajardo Touché B, C, I
Chairman of the Board of Directors of Solfi, S.A. de C.V.
Since 1988
Secretaries
Carlos Eduardo Aldrete Ancira
Secretary of the Board of Directors
(Non-member)
Alejandro Gil Ortiz
Alternate Secretary of the Board of Directors
(Non-member)
Key: A Audit Committee / B Corporate Practices Committee / C Strategy and Finance Committee / I Independent Director
Board Committees
The following committees support the Board of Directors by analyzing strategic issues critical to the success of the business. They provide recommendations related to the focus areas shown below, including economic, social and environmental matters.
Audit Committee*
Supports the Board of Directors in the following areas:
Corporate Practices Committee*
Supports the Board of Directors in the following areas:
Strategy and Finance Committee
Supports the Board of Directors in the following areas:
*All members of the Audit Committee and the Corporate Practices Committee are independent directors, as required by the Mexican Securities Law, applicable U.S. Securities Laws and applicable NYSE listing standards.
