Arca Continental, one of the largest Coca-Cola bottling companies in the world, has announced that its CEO Francisco Garza Egloff will retire from the firm as of 1 January 2019.
Current deputy general director of the Mexico-headquartered firm Arturo Gutiérrez Hernández will then take over as chief executive.
Arca said that during Francisco Garza Egloff’s tenure, the company has managed to double its sales profitably every five years, supported by strong organic growth, “as well as in a constant geographical expansion”.
Earlier this year, the bottler revealed an investment of $250 million to build a new distribution and production facility in Houston, US, through its subsidiary Coca-Cola Southwest Beverages.
The Arca Continental board of directors unanimously approved the change of leadership. Board chairman Manuel L Barragán Morales said: “It has been a privilege for us as a board, and for me in particular, to have the commitment, perseverance and talent of Pancho, which has undoubtedly been instrumental for the profitable growth that we as a company have achieved all these years.
He added: “One of the highest priorities of the board of directors has been the development of its talent as the fundamental axis of the positive evolution of the organisation, for which we are sure that the incorporation of Arturo Gutiérrez to the general management of this great company, with his deep knowledge and business vision, will be fundamental to continue strengthening us in all the territories and businesses in which we participate .”
Francisco Garza Egloff said: “In the first place, my sincere gratitude to the collaborators of Arca Continental for their constant dedication and professionalism, to achieve together the goals that we set ourselves since I had the honour of being invited to be part of this important team.
“I also recognise the trust and guidance of the board of directors, in particular its president Manuel L Barragán, who have been fundamental to what we are today as an organisation, which I am sure that with Arturo’s leadership will continue to achieve more and better objectives.”
Arturo Gutiérrez Hernández is 52 years old and has collaborated with Arca Continental for more than 17 years, in which he has headed various executive positions, including executive director of operations, secretary of the board of directors, director of the Mexico beverages division, director of human resources, director of planning and legal director.
He said: “I thank the board of directors for this important responsibility, reiterating my greater commitment to build on what we have achieved and continue promoting an increasingly competitive, agile and innovative organisation, better positioned with customers and consumers, with the firm intention of continuing to generate value for our shareholders, employees and the community.”
© FoodBev Media Ltd 2020