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CEO of Mexico conglomerate Alfa to step down

Thu Jul 2, 2009 5:25pm EDT

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MEXICO CITY, July 2 (Reuters) - Mexican conglomerate Alfa said on Thursday its chairman and chief executive would retire next year.

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Dionisio Garza, a member of the family that controls the company, will remain a board member after leading Alfa (ALFAA.MX) for 15 years, Alfa said in a statement.

Garza's retirement will become effective on March 31, 2010, Alfa said. The company has begun a search for a replacement.

Alfa, with revenue of 26.581 billion pesos in the first quarter, owns a refrigerated foods unit, a telecom operator, a petrochemical unit and an auto components maker. (Reporting by Noel Randewich; Editing by Richard Chang)

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