FEMSA Appoints New CFO
MONTERREY, Mexico--(BUSINESS WIRE)--July 5, 2000--Fomento Economico Mexicano, S.A. de C.V. ("FEMSA") (NYSE:FMX) (BMV:FEMSA UBD) announced today that Gerardo Estrada has joined FEMSA's corporate staff as Chief Financial Officer.
Prior to joining FEMSA, Estrada served as a managing director of Grupo Financiero Bancomer S. A. de C. V. ("GFB"). 43-year old Gerardo Estrada earned a C.P.A. degree in 1977 and a M.A. degree in 1981, both from the Instituto Tecnologico y de Estudios Superiores de Monterrey.
From 1994 through June 2000, Estrada held several important financial positions within GFB. Most recently, he served as Corporate Chief Financial Officer, where he played a major role in structuring GFB's major capitalization projects. Prior to working for GFB, Gerardo Estrada held several financial positions within Grupo Cydsa including finance director for the packaging division, corporate finance manager and corporate manager of financial planning.
Gerardo Estrada will report directly to Federico Reyes, FEMSA's Executive Vice President of Planning and Finance. "We are extremely pleased that Gerardo has accepted the invitation to join our team and have no doubt that his expertise and financial skills will prove to be an invaluable contribution to the Company," stated Federico Reyes.
FEMSA is Mexico's largest beverage company with exports to the United States, Canada and selected countries in Latin America, Europe and the Far East. Founded in 1890 and with headquarters in Monterrey, Mexico, FEMSA is strategically integrated and operates through the following subsidiaries: FEMSA Cerveza, which produces and distributes name brands of beer such as Tecate, Carta Blanca, Superior, Sol, XX Lager, Dos Equis and Bohemia; Coca-Cola FEMSA, an "Anchor Bottler" for The Coca-Cola Company in Latin America, which produces and distributes soft drinks including Coca-Cola, Coca-Cola Light, Sprite, Fanta and Quatro; FEMSA Empaques, which supports the beverage operations by producing beverage cans, glass bottles, crown caps, labels, commercial refrigerators, and serves third party clients throughout the Americas; FEMSA Comercio, which operates OXXO, Mexico's most extensive chain of convenience stores; and FEMSA Logistica, which provides logistics management services to affiliate companies, and recently to third party clients.
CONTACT:
FEMSA, Monterrey
Investor Relations
Maria Elena Gutierrez, 011/528-328-6243
megutsan@femsa.com.mx
or
Corporate Communications
Laura E. Solano, 011/528-328-6150
lsolmar@femsa.com.mx