The Board of Directors of FEMSA consists of 20 Directors and is assisted by 1 Secretary (non-member) and 1 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 must be independent. Directors are elected by the shareholders of the company at the Annual General Shareholders Meeting. Each Director is assigned a specific Alternate Director who is authorized to serve on the Board of Directors in the event that the Director is unable to attend meetings or otherwise participate in the activities of the Board of Directors.
Directors and their specific Alternate Directors are appointed for a term of 1 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 2001, Jose Antonio Fernandez, former CEO of FEMSA, has presided as Chairman of the Board of Directors.
Current members of the Board of Directors:
Chairman of the Board
Alternate: Federico Reyes García
Vice President of Corporate Development of Fomento Económico Mexicano S.A.B. de C.V. (FEMSA)
First elected: 2005
Alternate: Paulina Garza Lagüera Gonda
Alternate: Othón Páez Garza
Chief Executive Officer 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.
Alternate: Francisco José Calderón Rojas
Vice-President of Strategic Businesses of Fomento Económico Mexicano S.A.B de C.V. (FEMSA)
Alternate: Juan Carlos Garza Garza
Operations Manager at Servicios Liverpool, S.A. de C.V.
Alternate: Bertha Michel González
Chairman of the boards of directors of Grupo BAL, S.A. de C.V. Peñoles, GNP, Fresnillo plc, Grupo Palacio de Hierro, S.A.B. de C.V., Profuturo and Chairman of the Governance Board of Instituto Tecnológico Autónomo de México (ITAM).
Alternate: Arturo Fernández Pérez
Chief Executive Officer of Servicios Administrativos Contry, S.A. de C.V.
Alternate: Daniel Alberto Rodriguez Cofré
Chairman of the Board of Directors of SOLFI, S.A.
Chairman of the board of directors of Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (Volaris)
Alternate: Sergio Deschamps Ebergenyi*
CEO Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA)
Alternate: Eduardo Padilla Silva
Alternate: Juan Guichard Michel
CEO and Chairman of the board of Directors of The Home Depot Mexico, S. de R.L. de C.V.
Executive vice-president of Grupo Televisa, S.A.B. (Televisa)
Alternate: Enrique F. Senior Hernández*
Alternate: Francisco Zambrano Rodríguez*
Alternate: Ernesto Cruz Velazquez de León*
Carlos Eduardo Aldrete Ancira
Alejandro Gil Ortiz
Note: * Indicates Independent member