PRESS RELEASES

Mexico’s Alsea Taps Successor to Chief Executive Torrado

(May 18, 2021) 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 (SBUX.O), 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.

The search was completed by Alder Koten’s Felipe Llaguno and Jose Ruiz working directly with the board of directors.

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.