Business elite and their stance on the General Election

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Elite businessmen

of Mexico have expressed their stance on the 2018 General Election and through letters, videos, and meetings, they've urged their employees to think over their votes carefully, considering the effect of populism in economy, its impact on families, and the possible consequences for the country.

Alberto Baillères, Chairman of the Board of Directors of the Palacio de Hierro – and the second-richest man in Mexico – informed that the company is part of the movement ConcienciaMx (roughly, Awareness Mexico), an initiative by entrepreneurs and citizens calling voters to think of their country yet he denied any proselytizing.

“The mission of this initiative is to make our collaborators more aware of their responsibility as citizens and key players in the construction and evolution of the country model we want and aspire to be. El Palacio de Hierro reaffirms it fully respects individual political preferences and right to a free and secret vote,” said Baillères on his official statement.

Palacio de Hierro has 12, 390 employees and is part of the conglomerate Bal Group, which employs 60,000 people.

For their part, Bimbo Group , one of the largest bakery product manufacturing companies in the world, chaired by Daniel Servitje Montull, informed that it has communication with its employees but in compliance with electoral laws.

“In Bimbo Group we have permanent communication with our external and internal interest groups. We respect the rights of our collaborators and the electoral laws of each of the countries we operate in,” he declared.

José Antonio Fernández Carbajal, president of the Board of Directors of Fomento Económico Mexicano (FEMSA) – the largest Coca-Cola bottling company and employing over 295,000 people – confirmed through a YouTube video his standing against populist measures.

“The policies of Luis Echeverría and José López Portillo, which involved a greater participation of the State in the economy, fixing prices, salary policies with a partisan orientation, and the disorderly handling of Government expenses, and thus, its public finances, caused a terrible increase to our fiscal deficit,” he said.

For their part, Aeroméxico , led by Andrés Conesa, sent a letter to their over 15,000 collaborators, urging them to learn about the proposals and projects of the candidates and – although he made no direct reference to a party or a candidate, he suggested “not to vote in anger.”

Héctor Hernández-Pons, chairman of the Board of Directors of Herdez Group , confirmed to this news outlet that they sent a letter to their employees in order to raise awareness about the importance of voting; similar to Agustín Coppel from Coppel stores, who sent a memo to declare the full respect of the freedom to vote.

On the other hand, there are companies which have decided to stay away from the political climate, such as Coca-Cola Mexico, and Soriana.

The companies who haven't given an answer regarding their actions are Walmart Mexico, Genomma Lab, Banorte Financial Group, Chedraui, and Cinepolis, mainly.

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