Armando Garza Sada

Armando Garza Sada chairs the board of directors of Alfa, the conglomerate that is moving forward with the spin-off of its auto parts business, Nemak, and its telecommunications business, Axtel. The objective is to become a holding company of the independent entities. Alfa’s revenues grew 30% annually to US$9 billion in the second quarter of the year thanks to Alpek, its petrochemical division. It also operates in the food sector with Sigma.