Silva Poised to Take Top Spot at Narrow-Moat Femsa; Shares Remain Somewhat Rich
We’re reiterating our $94 fair value estimate and narrow-moat rating following Femsa’s announcement that current CEO Carlos Salazar LomelÃn will retire from his position on Jan. 1, 2018, after more than 40 years with the company. LomelÃn was appointed to his current role in 2014, previously serving as CEO of Coca-Cola Femsa, and will remain on the company's board of directors. Eduardo Padilla Silva, who currently serves as the firm's chief financial and corporate officer, will replace him. We we...
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