Coca-Cola FEMSA makes it easier for board to make decisions, appoint executives

Coca-Cola FEMSA bottler to change bylaws

MONTERREY, Mexico — Drinks company Fomento Economico Mexicano SAB said Wednesday its bottler, Coca-Cola FEMSA, plans to change its bylaws so a simple majority of its board can appoint and set compensation of the CEO and people who report directly to him or her.

Coca-Cola FEMSA is the biggest bottler of Coca-Cola drinks in Central America.

The company said a simple majority also will suffice for “decisions related to the ordinary operations.”

Acquisitions and many other matters still require the approval of two directors appointed by the Coca-Cola Co., in addition to a majority vote.

The bylaws changes are on the agenda for an April 14 shareholders meeting.