Pancho Garza, In Memorium
In April, we lost a dear friend and business leader in Francisco “Pancho” Garza. Pancho was the long-time CEO of Arca Continental from its formation in 2000 until his retirement in 2018. Under his leadership, Arca grew from three newly combined private Mexican Coca-Cola bottlers to the fourth largest Coca-Cola bottler in the world. Over that time, Arca generated a 14% annualized total return for shareholders. Arca has been a Cook & Bynum holding since 2008. More than the financial accomplishments, Pancho was a wonderful man that touched everyone he encountered. He cared about people, and people were inspired by him to do their best. He was fond of asking new employees, “Who’s the boss?” The only correct answer was “the Customer.” With this focus, Pancho laid the foundation for a strong company culture built to serve and delight its customers. Here is one of the few published interviews with Pancho where he stressed the importance of persistence, humility, honesty, generosity, and hard work.
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