Arca Continental has announced Francisco Garza Egloff will retire as chief executive of the Mexican food and beverage company in January after 16 years.
Arturo Gutierrez, who is currently deputy CEO, will replace Garza Egloff on 1 January, according to a statement yesterday (21 August). The current chief will continue as a member of Arca’s board of directors, and from the succession date will serve as vice chairman of the company’s food and snacks board.
Gutierrez has been with the firm for more than 17 years, holding positions including executive vice president of operations and head of the Mexico beverages division. He oversaw the merger of Embotelladoras Arca and Grupo Continental and in his current role as deputy CEO, led the integration of Coca-Cola Southwest Beverages with Arca Continental.
The incoming chief executive commented: “I would like to thank the board of directors for trusting me with this important responsibility and stress my commitment to build on what we have achieved. My plan is to continue promoting an increasingly competitive, agile and innovative organisation.”
Arca’s board unanimously approved the leadership transition, which it says is “part of the institutional succession plan designed to ensure the long-term continuity and growth of the company”.
Chairman Manuel Barragan said: “It has been a true privilege for us as a board, and for me in particular, to witness Pancho´s [Garza Egloff] commitment, perseverance and talent throughout the years. He has played an instrumental role in our profitable growth, always working closely with our associates and serving as a great example of the human and institutional values that distinguish us.”
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Garza Egloff´s achievements at the firm were described as doubling sales every five years and transforming Arca from a regional player in Mexico to an international company with operations in five countries in the Americas. Arca also became the first Latin American Coca-Cola bottler to operate in the US under his tenure, primarily in Texas and parts of Oklahoma, Arkansas and New Mexico.