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(Sharecast News) - Fresnillo said on Monday that chief financial officer Mario Arreguín plans to retire following a 37-year career with the precious metals miner.
Arreguín joined Fresnillo in 2008, serving as CFO leading up to the company's initial public offering on the London Stock Exchange that same year. Before joining Fresnillo, he worked for was CFO of parent company Peñoles.
Fresnillo has appointed 50-year old Rodrigo Sandoval as CFO designate with effect from 21 September. Sandoval will succeed Arreguín as CFO and be appointed to the Executive Committee on 1 November following a handover period.
Fresnillo said Sandoval brings extensive financial, operational, and capital markets industry experience. From 2018 to August 2026 he served as CFO of Grupo Gigante, one of Mexico's leading listed conglomerates, with oversight across corporate finance, capital markets, treasury, financial planning, tax, risk management, M&A, and investor relations.
He has also served as CFO of the mining division at Grupo México. Sandoval holds an MBA from the Yale School of Management, a post-graduate certificate in corporate finance from ITAM, Mexico, and a bachelor of economics from ITAM, Mexico.
Chairman Alejandro Baillères said: "On behalf of the board and everyone at Fresnillo, I would like to express our sincere gratitude to Mario for his 37 years of service to the group. As CFO of Peñoles, and subsequently CFO of Fresnillo since our 2008 IPO, he has played an important role in the development and growth of Fresnillo as a leading FTSE 100 precious metals company. His contribution has helped establish a strong financial foundation for the company.
"Today's announcement reflects the board's commitment to thoughtful, long-term succession planning. Having worked closely with Mario over many years, we have prepared for this transition to support continuity in our financial leadership and maintain the company's focus on financial discipline and long-term value creation."
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