AppointmentsBrief
Fresnillo names Rodrigo Sandoval CFO as Mario Arreguín retires
Sandoval joins as CFO designate on 21 September and takes over on 1 November, after leaving the Torex Gold board, the silver and gold miner said.
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Fresnillo plc has named Rodrigo Sandoval to succeed chief financial officer Mario Arreguín on 1 November, and Arreguín will retire after 37 years with the group, it said in an announcement to the London Stock Exchange on 14 September.
The company describes itself as the world's largest primary silver producer and Mexico's largest gold producer. Fresnillo said its nominations committee ran a structured evaluation before the appointment. Sandoval, who is 50, joins as CFO designate on 21 September and will be appointed to the executive committee when he formally takes over on 1 November, after a handover period, the company said. Arreguín steps down from his executive role and from the executive committee on that date and stays on as a senior adviser until the end of January 2027 to cover the year-end financial cycle.
The announcement says the board has executed a pre-established succession plan. Chairman Alejandro Baillères said the announcement reflects the board's commitment to "thoughtful, long-term succession planning". Chief executive Octavio Alvídrez said he looked forward to working with both men to ensure "a smooth and orderly leadership transition".
Sandoval was chief financial officer of Grupo Gigante, a Mexican listed conglomerate, from 2018 to August 2026, with oversight of corporate finance, capital markets, treasury, tax, risk management, mergers and acquisitions and investor relations, Fresnillo said. He previously served as CFO of the mining division at Grupo México. He holds an MBA from the Yale School of Management, plus a bachelor's degree and a postgraduate certificate from ITAM in Mexico.
He was also an independent director of the Toronto-listed Torex Gold Resources from 2022, chairing its audit committee and sitting on its corporate governance and nominating committee, the announcement says. Fresnillo said he stepped down from the Torex board with immediate effect in light of his new appointment. The announcement does not name his successor at Torex or say whether Sandoval will join the Fresnillo board.
Arreguín joined Fresnillo in 2008 and served as CFO in the run-up to its London listing that year, the announcement says. Before that he was CFO of the parent company, Industrias Peñoles. In a statement he said that after 18 years as CFO of Fresnillo and 37 years with the group, "now is the right moment to step down", citing the business's financial health and the successor in place.
Baillères credited Arreguín with an important role in the development of Fresnillo as a FTSE 100 precious metals company, in the same statement. Fresnillo, which is listed on the London and Mexican stock exchanges, operates eight mines, all in Mexico, the announcement says.