Walmart de Mexico's CEO Search Continues, Decision Timeline Unclear

Mexico's Walmex is still considering alternatives for CEO role, with no decision yet made, according to a Santander note to clients. The selection process will take time, and the company is likely to choose a replacement for Ignacio Caride, who stepped down as CEO in August.

Mexico's Walmex, the local unit of the U.S. retailer Walmart, is still considering alternatives for the CEO role, with no decision yet made, according to a Santander note to clients. The selection process is expected to take time, and the company is likely to choose a replacement for Ignacio Caride, who stepped down as CEO in August [1].

Caride's resignation comes amidst a period of regulatory uncertainty and mixed financial performance. Walmex reported a 10% drop in net profit during the second quarter of 2025, despite an 8% increase in sales. The decline in profits was attributed to a slower-than-anticipated recovery in consumer spending, despite the sales increase [1].

The company is facing an antitrust investigation by the Comisión Federal de Competencia Económica (COFECE), which has resulted in a $5 million fine for alleged monopolistic practices. Walmex has challenged the investigation, citing procedural irregularities and claims of conflicts of interest among COFECE commissioners [2].

Despite the challenges, Walmex has shown resilience in its strategic initiatives under Caride's leadership, achieving significant growth in digital sales and private-label products. However, the lack of a confirmed successor raises questions about the continuity of these initiatives and the company's preparedness for future challenges [2].

Cristian Barrientos Pozo, previously senior vice president of operations at Walmart de Mexico, has been appointed as interim CEO until a new leader is appointed. Barrientos Pozo brings extensive experience driving expansion, store openings, and digital transformation to his new interim role [1].

Investors should monitor Walmex's corporate governance disclosures for signs of a smooth succession plan. The company's shares are little changed in 2025, compared to a 15% increase for the country's benchmark index [3].

Walmart International, the company division that operates in 18 countries including Mexico, is a main pillar of the company's strategy. The selection of a new CEO for Walmex will be crucial in navigating the company's challenges while preserving its strategic momentum [3].

References:
[1] https://www.ainvest.com/news/walmart-mexico-ceo-caride-steps-surprise-move-reuters-2508/
[2] https://www.ainvest.com/news/walmart-mexico-crossroads-leadership-regulation-path-resilience-2508/
[3] https://www.bloomberg.com/news/articles/2025-08-01/wal-mart-de-mexico-ceo-ignacio-caride-resigns-abruptly