Executive changes in the subsidiaries of B. Fernández Holdings
San Juan, Puerto Rico – B. Fernández Holding announced management changes in its companies B. Fernández & Hnos., Inc. and Pan Pepín. José Teixidor, president and CEO of B. Fernández Holding Co., Inc., informed that Mario Somoza, will go on to preside B. Fernández & Hnos., while Ángel Vázquez will be the president of Pan Pepín. The organizational change was effective in January 2021.
The transition between the presidents of both companies follows a model of multinational companies that aims, among other aspects, to refresh the Group's work by facilitating the generation of new ideas and challenges to work with. Rotating executive positions also allows obtaining a detailed understanding of the functions and operations, providing the necessary knowledge to effectively manage the various areas of the business.
“With this change we aim to continue positioning the Group of B. Fernández Holding among the best in the industry. Part of this is adopting good talent development practices, which has led us to make an executive change. Mario Somoza and Ángel Vázquez have been key in the development and growth of the company for 17 years. They have demonstrated a firm commitment to me, to the Group and its shareholders,” said José Teixidor, president and CEO of B. Fernández Holding Co.
The company intends to maximize the skills and experiences of each of the executives for the benefit of the group, making their talents available to both subsidiaries. At Pan Pepín, Mario Somoza, among many of his achievements, stood out for leading Pan Pepín to the leadership of the bread industry, building the most modern and efficient bread plant in the Caribbean. Also, he developed the Planitas brand with unprecedented success.
At B. Fernández, Ángel Vázquez, among many successes, managed to implement a new system of direct sales routes, helping to position Busch Light as the second best-selling beer. Similarly, he balanced the product portfolio with lines such as Altria (Philip Morris) and Mars, among others, and has helped achieve a significant increase in sales, from $180MM to over $300MM.
The organizational change of B. Fernández Holding also unifies skills and experiences that will make the Group stronger and prepare for a future of growth. This is the operational vision of the company.