Coca-Cola FEMSA, S.A.B. de C.V. (bmv:KOFL) KOF -1.99% ("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 the Mexico division, will now extend his responsibilities. In addition to the Mexican operations, he will manage the Central American franchise territories in Guatemala, Nicaragua, Costa Rica, and Panama. These franchise territories will integrate the new Mexico and Central America division. Ernesto's considerable operating experience has been an important driver of the Mexico division's growth, maintaining a strong focus on profitability and enhancing the execution capabilities of the largest operation to realize its full potential. With more than 15 years of experience in the Company, he served as Chief Operating Officer of the 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 the new South America division. This new division will comprise the operations in Colombia, Venezuela, Brazil, and Argentina. John has played a key role in the Company's strategic planning processes over the past three years and has led the efforts to design and coordinate the implementation of innovative commercial and service models. He has more than 16 years of experience within the Company, during which time he served as Chief Operating Officer of the 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 records 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 the Mexican and Argentinean operations, among other executive positions.
"This new business structure will provide us with the necessary flexibility to manage the business going forward and extend the 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 the most valuable asset, the wide pool of talented professionals. We are confident that John and Ernesto will ensure the continued growth of the operations and that Rafael will continue to contribute his experience to develop the 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, the reporting segments will be Mexico and Central America, and South America.
Coca-Cola FEMSA, S.A.B. de C.V. produces and distributes Coca-Cola, Fanta, Sprite, Del Valle and other trademark beverages of The Coca-Cola Company in Mexico (a substantial part of central Mexico, including Mexico City and southeast Mexico), Guatemala (Guatemala City and surrounding areas), Nicaragua (nationwide), Costa Rica (nationwide), Panama (nationwide), Colombia (most of the country), Venezuela (nationwide), Brazil (greater Sao Paulo, Campinas, Santos, the state of Mato Grosso do Sul, part of the state of Goias and part of the state of Minas Gerais) and Argentina (Buenos Aires and surrounding areas), along with bottled water, juices, teas, isotonics, beer, and other beverages in some of these territories. The Company has 30 bottling facilities in Latin America and serves close to 1,600,000 retailers in the region. The Coca-Cola Company owns a 31.6% equity interest in Coca-Cola FEMSA.