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October 24, 2023

Embracing Change: The Evolution of Mexico’s Corporate Governance

In a bustling Mexico City, Delphos hosted a thought-provoking event on October 10th, 2023, that left attendees with a profound sense of hope and optimism about the evolution of Mexico’s corporate governance landscape. In collaboration with Impact Boards EM (IBEM), the event brought together industry experts and corporate leaders to discuss the ever-evolving world of governance, sustainability, and diversity.

The event’s first panel, “Perspectives on Regulations and Pressure,” brought together industry experts Jorge Arce (CEO, HSBC Mexico), Claudia Jañez (Board Member at HSBC Mexico, NED Mexbol and América Móvil), and Adalberto Palma (Executive Advisor at BEworks Mexico & Latam). The key takeaway from this panel was that corporate governance and sustainability requirements are evolving in Mexico to address a dynamic range of domestic and international demands.

Mexico’s commitment to international initiatives like the United Nations’ Conference of the Parties (COP) illustrates the nation’s dedication to monitoring and controlling emissions. Moreover, the call for improved standards in corporate governance and sustainability is coming from all directions, including foreign regulators, international stock exchanges, and global investors. This multifaceted pressure is driving a transformation in how Mexican businesses approach corporate governance.

The second panel, “Corporate stories: Cemex & Danone, Reaching for Even Better Standards in Governance and Diversity,” showcased the journey of leading companies like Cemex and Danone. Silvia Dávila (CEO, Danone), Jorge Fabre (Executive Director at Morrow Sodali and Managing Partner at Fabre Advisors Governance Capital), and Lucy Rodríguez (EVP, Chief Communications Officer, Cemex) provided inspiring insights into the transformation of board compositions, the adaptation to regulatory changes, and the growing demand for transparency and stringent governance standards from international investors. Their stories are a testament to the potential for positive change within Mexican businesses.

In his address at the IBEM event, Delphos President Andrew Brown emphasized the importance of the Mexican market. He noted, “Mexico is an anchor for Latin America, integrated into the region, and is an adjacent emerging market investment destination for US and Canadian investors.” This sentiment reflects the importance of Mexico’s role in the global business landscape and the value Delphos places on its partnership with the country.

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