Past winners: CEOs

Latin Trade, Nov, 2004

Antonino Fernandez Rodriguez

Corona beer drinkers around the world owe a toast to Antonino Fernandez Bodriguez, chairman of Mexican brewery Grupo Modelo. Spaniard Fernandez Rodriguez systematically transformed Grupo Modelo from an ordinary domestic beer manufacturer to one of the world's premier global brands, with Corona now topping the list of preferred imported beers in many of its 140 export markets.

What is the most important trend or event of the past 10 years?

Well, there have been many changes in leadership over the years but I would have to say that the election of President Vicente Fox, after 70 years of PRI [Partido Revolucionario Institucional] rule, was the most important event. Many people today complain about the lack of reform, yet we had one of the most monumental reforms in 70 years when Fox was elected. People should not forget that. Certainly, the current president has not had the success he anticipated, particularly with a Congress that seems to oppose everything. But the new powers of Congress are both good and bad.

There is always a debate over whether changes in the political or economic arena are more important. For me, whether one gives greater importance to political or economic change depends on your perspective. I moved to Mexico during the Franco era. In fact, I fought on the side of Franco. Politics dominated the environment; it was the era of the Cold War. Any decade needs to be analyzed from a political perspective, from what is happening in a country and beyond. I think that Mexico is a great country. We have suffered through many problems but I think that the political change reveals its potential.

Politics and economics really go hand in hand. In terms of economics, one needs to offer tangible change. It is important to implement major structural reforms in the economy because politicians can either have short-term careers or agendas with short-lived obligations or interests. Politics or politicians can be very transient but economics cannot nor should not. Maybe, with some politicians, their careers are not so short lived but their agendas switch. Regarding the economic opening, particularly under former president Carlos Salinas de Gortari, it has had both good and bad effects. Overall, it has been good for their economy. Most importantly, this economic opening is a reality.

What about the next 10 years?

I find it difficult to guess what will happen in the future. However, conflicts have been a central feature in the past, starting with World War II and now moving to the present conflict in Iraq. So I anticipate that conflicts will unfortunately continue. There is continued instability. The instability in Iraq right now stems from decisions taken by the United States. One cannot judge whether those decisions were right or wrong. But what one can say is that those decisions have serious repercussions for everyone. And unfortunately the repercussions so far have been negative. Just look at the March 11 train bombings.

In reality, I think that the collapse of the Twin Towers has forced the U.S. to take radical, even groundbreaking decisions. We are living in a very complicated era. The fear for the future is rooted in these monumental events of Sept. 11. I think security or lack thereof is a main concern for the future. Confidence in the U.S. has been shaken both within the U.S. and outside. The U.S. cannot ignore the impact these events have had on it, nor can other countries ignore the impact it has had on them. Nor can we ignore how the U.S. has responded.

Lorenzo Zambrano

Building Mexico's Cemex into one of the world's biggest cement companies in a decade, Lorenzo Zambrano is said to have wanted to run the company since he was 14 years old. Under Zambrano's leadership, Cemex boosted revenues to more than US$7 billion in 2003, up 147% from a decade earlier. The company owes its growth success to Zambrano's policy of aggressive technological upgrades and international acquisitions, pumping billions of dollars into U.S., African and Asian assets. The majority of Cemex' sales now come from abroad, which diversifies earnings and shields the company from swings in the Mexican economy. Operating margins have remained above 20% since the early 1990s, straight through major economic crises and a global expansion.

Carlos Slim Helu

Carlos Slim Held, the LATIN TRADE CEO of the year for 2003, has been named CEO of the decade in this issue (see page 18.) As Chairman of the Board for Telefonos de Mexico (Telmex), America Movil, Grupo Carso and Grupo Financiero Inbursa, he cut a swathe across Latin America, particularly with the expansion of Telmex's wireless spinoff America Movil, which rapidly became one of Latin America's fastest-growing companies through more than US$6 billion in acquisitions from El Salvador to Argentina. Slim is also involved in one of Latin America's most ambitious and controversial restoration projects, the US$300 million rebuilding of downtown Mexico City's centro historico.