Alsea B de C : Mexico's Alsea taps successor to chief executive Torrado
May 18, 2021 at 05:11 pm EDT
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MEXICO CITY (Reuters) - Mexican restaurant operator Alsea said on Tuesday it has selected a successor to Chief Executive Alberto Torrado and will begin training him next month to oversee its various brands, including Starbucks, Domino's Pizza and Burger King.
Fernando Gonzalez, selected by Alsea's board of directors, will initially join the company as deputy chief executive, Alsea said in a statement.
Torrado said he would remain at the company's helm "long enough to achieve an orderly, gradual succession," without providing a timeline for the transition.
After Gonzalez takes over, Torrado will keep his role as chairman, focusing on corporate governance and long-term strategy.
Originally from Madrid, Gonzalez has held management roles at Spanish supermarket group DIA and Mexican grocery chain Soriana, Alsea said. He was most recently president of Colombia's Koba, which operates discount stores.
(Reporting by Daina Beth Solomon in Mexico City; Editing by Matthew Lewis)
Alsea SAB de CV is a Mexico-based company primarily engaged in the foodservice sector. Its main activities include the operation of such reputed franchises as the Dominoâs Pizza, Burger King, California Pizza Kitchen, Chiliâs Grill & Bar, Italianniâs, Pei Wei Asian Diner and PF Changâs China Bistro fast-food restaurant chains, as well as the Starbucks Coffee coffeehouse chain. In addition, through Distribuidora e Importadora Alsea SA de CV, the Company provides logistics and food distribution services to its restaurants located in Mexico. The Company operates through a numerous subsidiaries, such as Cafe Sirena S de RL de CV, Operadora de Franquicias Alsea SA de CV, Operadora y Procesadora de Productos de Panificacion SA de CV, Gastrosur SA de CV and Especialistas en Restaurantes de Comida Estilo Asiatica SA de CV, among others. In May 2014, the Company acquired 100% stake in VIPs, the restaurant chain, which had belonged to Wal Mart de Mexico SAB de CV before.