Ian Craig succeeds John Santa María as CEO of Coca-Cola FEMSA
Constantino Spas succeeds Alfonso Garza as CEO of FEMSA Strategic Businesses

MONTERREY, Mexico and MEXICO CITY, Oct. 13, 2022 (GLOBE NEWSWIRE) — Fomento Económico Mexicano, SAB de CV (“FEMSA”) FMXFEMSAUBD FEMSAUB))) and Coca-Cola FEMSA, SAB de CV (“Coca-Cola FEMSA”) COFCOF, announced today that John Santa Maria Otazua will step down from his position as Chief Executive Officer of Coca-Cola FEMSA on January 1, 2023, in accordance with their thorough and considered executive succession planning processes and in accordance with previously established timeframes. Accordingly, Coca-Cola FEMSA’s Board of Directors has appointed Ian Craig García, currently CEO of Coca-Cola FEMSA Brazil, as Chief Executive Officer of Coca-Cola FEMSA at the same time. Ian’s appointment also has the full support of the FEMSA Board of Directors.

John has a distinguished career spanning 27 years at Coca-Cola FEMSA and has played a number of key roles as the company has grown to become the largest and most sophisticated bottler in the global Coca-Cola system. In his role as CEO since 2014, John has been instrumental in leading Coca-Cola FEMSA through a profound operational and digital transformation that has positioned the company to deliver sustainable long-term value as it expands its geographic reach to more territories extended into Brazil, Guatemala and Uruguay. For his part, Ian has been a distinguished member of the FEMSA team for 28 years, with increasing responsibilities at Coca-Cola FEMSA since 2003. Working closely with John, Ian has been CEO of Coca-Cola FEMSA Brazil since 2016 and has achieved remarkable results at every stage and in every aspect of the company.

At the same time, Alfonso Garza Garza will step down from his position as Chief Executive Officer of FEMSA Strategic Businesses on January 1, 2023. Constantino Spas Montesinos, currently Chief Financial Officer of Coca-Cola FEMSA, has been…