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    FEMSA UBD   MXP320321310

FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V.

(FEMSA UBD)
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Fomento Económico Mexicano B de C : Mexico's Femsa taps successor to CEO Padilla

10/15/2021 | 06:01pm EST
FILE PHOTO: The logo of Mexico's Coca-Cola FEMSA, the world's biggest Coke bottler, is pictured at its headquarters in Monterrey

MEXICO CITY (Reuters) - Mexican bottler and retailer Femsa said on Friday that it has chosen a successor for Chief Executive Edurardo Padilla, who will retire in January.

Daniel Rodriguez, who currently leads the Femsa Comercio division including the vast chain of Oxxo convenience stores, is slated to take the helm after joining the company in 2015.

Femsa said in a statement that Rodriguez will focus on "growth and innovation along with sustainability, inclusion, and diversity."

Padilla, who will step down on Jan. 1, had worked for close to 25 years at Femsa, including as its chief executive since 2018.

(Reporting by Daina Beth Solomon)


© Reuters 2021
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Financials
Sales 2021 546 B 25 561 M 25 561 M
Net income 2021 25 886 M 1 213 M 1 213 M
Net Debt 2021 104 B 4 887 M 4 887 M
P/E ratio 2021 21,3x
Yield 2021 1,42%
Capitalization 511 B 24 001 M 23 939 M
EV / Sales 2021 1,13x
EV / Sales 2022 1,05x
Nbr of Employees 316 072
Free-Float 99,0%
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Mean consensus BUY
Number of Analysts 15
Last Close Price 151,24 MXN
Average target price 208,82 MXN
Spread / Average Target 38,1%
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Managers and Directors
Miguel Eduardo Padilla Silva Chief Executive Officer & Director
Eugenio Garza Y. Garza CFO, Director-Finance & Corporate Development
José Antonio Fernández Carbajal Executive Chairman
Gerardo Estrada Attolini Vice President-Administration & Corporate Control
Robert Edwin Denham Independent Director