Business Context and Reporting Period
Company: Coca-Cola FEMSA, S.A.B. de C.V.
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: Fiscal year ended December 31, 2024.
Filing Date: May 30, 2025.
Subject: Report on adherence to the Code of Best Corporate Practices in compliance with the Internal Regulations of the Mexican Stock Exchange.
Key Financial Metrics
The filing text does not provide specific financial values for revenue, profit, cash flow, margins, debt, or liquidity. This document is a corporate governance compliance report rather than a financial statement.
Material Changes and Governance Structure
- Board Composition: As of the April 8, 2025 shareholders' meeting, the Board comprises 16 directors (9 appointed by Series "A", 4 by Series "D", 3 by Series "L"). There are 7 alternate directors.
- Independence: 8 directors are classified as Independent. Independent and Equity directors constitute 56.25% of the Board (below the 60% best practice target).
- Gender Diversity: 7 women serve on the Board (4 proprietary, 3 alternate).
- Committee Structure: The Board utilizes five intermediate bodies: Audit, Evaluation and Compensation (executed by Corporate Practices Committee), Finance and Planning, Corporate Practices, and Risk and Compliance (executed by Audit Committee).
- Meeting Frequency: The Board meets at least 4 times per fiscal year. Committees report quarterly.
Outlook, Risks, and Management Commentary
Sustainability Strategy: The Company has updated its Sustainability Framework aligned with FEMSA and The Coca-Cola Company. Key pillars include Water Stewardship, World Without Waste, Climate Action, Product Portfolio, Sustainable Sourcing, Integral Employee Well-being, and Community Development. The strategy is verified against GRI Standards, SASB, and TCFD recommendations.
Risk Management: The Audit Committee oversees risk identification, analysis, management, and control. The CEO submits a report on risk management at every Board meeting. The Board reviews strategic risks annually.
Legal and Compliance: The Audit Committee monitors legal disputes and compliance with applicable laws twice a year. Related party transactions outside the ordinary course of business exceeding 20% of consolidated assets require Shareholders' Meeting approval.
Whistleblower Mechanism: An external Ethics Line is available for employees, directors, and third parties to report Code of Ethics violations.
Investor Verification Checklist
- Verify the full financial results for the fiscal year ended December 31, 2024, in the separate "Integrated Annual Report 2024" referenced in the filing.
- Confirm the specific composition and independence status of the 16 directors listed in the materials for the Annual General Ordinary Shareholders Meeting.
- Review the "Integrated Annual Report 2024" for detailed ESG metrics and sustainability performance data.
- Check the status of pending legal disputes and litigation risks, which are monitored quarterly by the Audit Committee.
- Validate the succession plans for the CEO and relevant officers, which are formally established and reviewed by the Board.