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FEMSA (NYSE: FMX) has named Jose Antonio Fernández Garza-Lagüera as its next Chief Executive Officer, effective November 1st, 2025, the company announced. Garza-Lagüera, currently CEO of FEMSA Proximity & Health, brings a wealth of experience from various leadership roles within the diversified beverage and retail conglomerate.
The appointment follows a structured succession planning process, reinforcing FEMSA’s commitment to corporate governance. A Special Committee of the Board, led by Ricardo Saldívar Escajadillo, oversaw the selection process. Garza-Lagüera’s current responsibilities include managing a team of over 180,000 employees and overseeing a vast network of 28,000 proximity stores across 11 countries, 4,300 drugstores in Latin America, and 550 fuel stations in Mexico, demonstrating his proven ability to manage large-scale, multi-national operations.
José Antonio Fernández Carbajal will remain as Executive Chairman, ensuring a smooth leadership transition and continuity in strategic direction after having served as interim CEO since July 2023. The market has reacted favorably to the news, reflecting confidence in Garza-Lagüera and the overall governance practices at FEMSA.
Positive
Structured and well-planned succession process following high corporate standards
New CEO brings extensive internal experience across multiple FEMSA divisions
Appointment ensures leadership continuity with current Executive Chairman remaining in role
FEMSA’s planned CEO succession appoints experienced internal leader Jose Antonio Fernández Garza-Lagüera, suggesting strategic continuity with operational expertise.
FEMSA’s announcement represents a well-executed leadership transition following a comprehensive succession planning process. The appointment of Jose Antonio Fernández Garza-Lagüera demonstrates strong corporate governance practices, with oversight from both the Corporate Practices and Nominations Committee and a Special Committee including independent directors.
The incoming CEO brings impressive operational credentials, currently leading FEMSA Proximity & Health – a division encompassing 28,000+ stores across 11 countries, 4,300+ drugstores in four Latin American markets, and 550+ fuel stations in Mexico. This scope of responsibility includes managing 180,000+ colleagues, providing significant leadership experience.
Particularly noteworthy is Garza-Lagüera’s career progression within FEMSA’s ecosystem, having held multiple leadership positions across diverse business units including strategic planning at OXXO, CEO of the Plastics division, and CEO of Coca-Cola FEMSA Central America. This cross-functional experience suggests a leader with comprehensive understanding of FEMSA’s operations.
The transition appears designed to maintain strategic continuity while bringing Garza-Lagüera’s “assertive and results-driven style” to FEMSA’s next phase. With José Antonio Fernández Carbajal continuing as Executive Chairman after serving as interim CEO since July 2023, the company maintains leadership stability during this transition.
09/17/2025 – 09:56 PM
Jose Antonio Fernández Garza-Lagüera to become FEMSA’s CEO
MONTERREY, Mexico, Sept. 17, 2025 (GLOBE NEWSWIRE) — Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD) announced today that based on its senior leadership succession planning process, and consistent with the plan detailed on FEMSA’s Fourth Quarter and Full Year 2024 earnings press release dated February 27, 2025, its Board of Directors has appointed Jose Antonio Fernández Garza-Lagüera, currently CEO of FEMSA Proximity & Health, to become FEMSA’s Chief Executive Officer as of November 1st, 2025.
As previously communicated, since the middle of last year the Corporate Practices and Nominations Committee of FEMSA’s Board of Directors (“CPNC”) worked diligently on designing and developing the actions required for this important process. This Committee recommended the creation of a Special Committee of the Board to oversee this process throughout this year. The Special Committee was chaired by Ricardo Saldívar Escajadillo, Chairman of the CPNC, and included all the other members of the CPNC, as well as three additional independent directors. Upon completion of their evaluation, the Special Committee submitted its recommendation, which was approved by FEMSA’s Board of Directors. In designing this process, as in prior CEO designations, we adhered to the highest corporate standards, and we engaged a leading global firm with extensive experience in such processes, along with other advisors from various specialties.
Jose Antonio joined Cervecería Cuauhtémoc Moctezuma Heineken in 2011 as Sales and Operations Manager. From there, he rose through several management roles across FEMSA’s business units, including as Director of Strategic Planning at OXXO and FEMSA Comercio, as well as CEO of FEMSA’s Plastics division, CEO of Coca-Cola FEMSA Central America, CEO of Spin, and his current position as CEO of FEMSA Proximity & Health. In this role, Jose Antonio leads a team of more than 180,000 colleagues and has responsibility for an operation that comprises more than 28,000 proximity stores across 11 countries in the Americas and Europe, over 4,300 drugstores in four Latin American markets, and more than 550 fuel stations in Mexico. Jose Antonio has a bachelor’s degree in industrial engineering from Tecnológico de Monterrey, and an MBA from Stanford’s Graduate School of Business.
Jose Antonio will bring his strategic focus and his assertive and results-driven style of leadership to guide FEMSA through a new stage of economic and social value creation, driving growth, innovation, and sustainability, with a continued focus on the development of FEMSA’s people, their families, and the communities in which the Company operates.
José Antonio Fernández Carbajal, Executive Chairman of FEMSA and interim CEO since July of 2023, will continue in his role as Executive Chairman. The Board of Directors expresses its sincere gratitude to José Antonio for his leadership and dedication while serving in both capacities during this transitional period.
About FEMSA
FEMSA is a company that creates economic and social value through companies and institutions and strives to be the best employer and neighbor to the communities in which it operates. It participates in the retail industry through a Proximity Americas Division operating OXXO, a small-format store chain, and other related retail formats, and Proximity Europe which includes Valora, our European retail unit which operates convenience and foodvenience formats. In the retail industry it also participates though a Health Division, which includes drugstores and related activities and Spin, which includes Spin by OXXO and Spin Premia, among other digital financial services initiatives. In the beverage industry, it participates through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world by volume. Across its business units, FEMSA has more than 392,000 employees in 18 countries. FEMSA is a member of the Dow Jones Best-in-Class World Index & Dow Jones Best-in-Class MILA Pacific Alliance Index, both from S&P Global; FTSE4Good Emerging Index; MSCI EM Latin America ESG Leaders Index; S&P/BMV Total México ESG, among other indexes.
Who is the new CEO of FEMSA (NYSE: FMX)?
Jose Antonio Fernández Garza-Lagüera, previously CEO of FEMSA Proximity & Health, will become FEMSA’s new CEO effective November 1st, 2025.
What experience does FEMSA’s new CEO have within the company?
He has held various leadership roles including Sales and Operations Manager at Cervecería Cuauhtémoc Moctezuma Heineken, Director of Strategic Planning at OXXO, CEO of FEMSA’s Plastics division, CEO of Coca-Cola FEMSA Central America, CEO of Spin, and CEO of FEMSA Proximity & Health.
When will Jose Antonio Fernández Garza-Lagüera start as FEMSA’s CEO?
He will assume the role of CEO on November 1st, 2025.
What is the size of operations that FEMSA’s new CEO currently oversees?
He currently leads 180,000 colleagues and manages 28,000 proximity stores across 11 countries, 4,300 drugstores in Latin America, and 550 fuel stations in Mexico.
Who will serve as FEMSA’s Executive Chairman after the CEO transition?
José Antonio Fernández Carbajal will continue in his role as Executive Chairman after serving as interim CEO since July 2023.
