Fomento Económico Mexicano, S.A.B. de C.V. announced that Daniel Rodríguez Cofré, after consulting with his family and doctors, is stepping down from his role as CEO, to focus on his health and treatment of a previously announced colon cancer diagnosis. Until a replacement is appointed, José Antonio Fernández Carbajal, Executive Chairman and former CEO of FEMSA, will serve as acting Chief Executive Officer on an interim basis, with the continued support of FEMSA’s senior leadership team and the CEOs of the business units. This appointment is effective immediately.

FEMSA’s board of directors has approved this appointment, and it is consistent with the recommendation of the Corporate Practices and Nominations Committee of the board and the approved contingency framework for the efficient execution of the business strategy and day-to-day operations of the Company. The Board will continue to actively work on the Company’s leadership succession plans.