EconomyFinancialHandover at Alsea: Armando Torrado becomes the company's director

Handover at Alsea: Armando Torrado becomes the company's director

Alsea moves his chips. The owner of Starbucks and Domino’s Pizza announced that Armando Torrado Martínez will be the new CEO of the company starting Monday, July 11, taking over from Fernando González Somoza, who took office in January of this year.

“After an in-depth analysis and attending to his personal interests, Fernando González Somoza and Alsea’s board of directors agreed to end his term as CEO of the company starting next Friday, July 8,” Alsea said in a statement.

Fernando González was appointed director of Alsea in January, but the succession process began on June 1 of last year, when he joined as deputy general manager to start a process of cultural and operational immersion in Alsea’s brands and areas of operation.

“This change of management clearly creates noise in the short term, especially given the short mandate of Mr. González and in the midst of the recent headlines about Alsea’s dispute over payment of taxes before the SAT. Nonetheless, we continue to expect strong operating results, a healthy earnings performance ahead and a strong position despite inflation,” Barclays said in an analysis.

Of Spanish nationality, González has more than 30 years of experience in the retail sector, 13 of them as CEO. Before joining Alsea, González spent the last two years in Colombia, where he held this position at Koba, a company with 14,000 employees.

Meanwhile, Armando Torrado has more than 30 years of experience in the company, from the operation of the first Domino’s Pizza stores in Mexico in 1991 to the development of Alsea’s core brands internationally. He was the corporate store leader for Domino’s Pizza in Mexico, a position he held for more than 10 years, as well as general director of Domino’s Pizza Mexico and development director for Alsea.

He has served as director of casual dining for Alsea, which includes Chili’s, Italianni’s, PF Chang’s, The Cheesecake Factory restaurants. He was also director of expansion for Mexico and South America and Director of Alsea South America.

During the last few years he held the position of director of Alsea Internacional (Alsea South America and Alsea Europe, being responsible under this last position for approximately 55% of the company’s total sales.

“On behalf of the board of directors, I thank Fernando González for the time he directed the company. We are sure that with Armando at the helm, a new stage begins with results that continue with Alsea’s leadership, meeting and exceeding the established goals,” said Alberto Torrado, chairman of Alsea’s board of directors, quoted in the statement.

The relays in Alsea

The restaurant operator has made various changes in its corporate governance, always led by Alberto Torrado Martínez. In 2010 it was Fabián Gosselin Castro who assumed the general direction.

In 2016, Renzo Casillo took office, who had an abrupt departure in 2019, and Alsea resorted to the formula that had always given him results: putting one of the founding partners in charge. Alberto Torrado, the president of the board, thus assumed the functions of CEO and was in charge of navigating through the pandemic, until the arrival of González Somoza, who leaves office on July 8.

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