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IROs Experience in Mexico – Part 1

We spoke with three Investor Relations Officers (IROs) of Mexican companies from different sectors, inviting them to share their perspectives and experiences. Investor Relations is an area that has been evolving in recent years, becoming increasingly important to a company’s positioning in the the stock market, as well as contributing to decision-making processes and overall strategy. 

The people we interviewed were: Antonio Tejedo from Grupo Traxión, Bryan Carlson from Becle, and Mariana Fernández from Grupo Rotoplas. 

What would you say is (are) the main objective(s) of IR and what are the principles that should guide the approach to IR within a company? 

According to the interviewees, providing the market with complete and transparent information is critical to successful investor relations. Key objectives for the interviewees include accurately receiving investor feedback, creatively adapting to the retail audience, and proactively seeking new institutional investors. 

How do you establish your priorities as an IRO within the company? 

Aligning the IR department with the vision, goals, and plans of top management is one of the most important points for the interviewees. Mariana observes innovative practices in the market on a daily basis, Antonio strategically targets investors to build relationships with new shareholders who align with the company’s financial objectives, and for Bryan, he ensures that all internal business areas understand the importance of the IR department. 

What do you believe are the challenges to face in 2024 as an IRO? 

“Every year is more complex. Challenges include continuing to position Traxión as a nearshoring pure play and sustaining an aggressive targeting strategy.”– Antonio Tejedo 

“The industry faces challenges such as the post-COVID consumption slowdown and the impact of the peso/dollar exchange rate. Communicating these challenges is essential.” – Bryan Carlson 

“We face significant challenges due to limited liquidity, market cap, and corporate access. We will look to participate in more conferences and increase hedging by brokerage firms. Communicating the water thesis is key.” – Mariana Fernández 

What changes have you seen in the IR environment in recent years? 

According to the interviewees’ opinion, the role of IR has evolved and gained relevance, resulting in increased responsibilities that require senior executives. Some changes they observe include:  

  • The evolution of the Mexican market and the demand for more detailed and faster information, particularly after the pandemic. 
  • The incorporation of artificial intelligence into IR tasks. 
  • The growing interest in ESG.  
  • The growth of retail accounts and the launch of new platforms such as GBM+. 


How many conferences and NDRs do you attend per year, and how many do you attend with top management (CFO or CEO)? 

On average, respondents attend between 6 and 10 events per year, but the participation of top management varies. In the case of Traxión, the founder and Chairman of the Board attend most events, while at Rotoplas and Becle, the CFO’s attend half of the conferences or less, although they are very active in quarterly calls and Investor Days. Attendance at conferences and Non-Deal Roadshows (NDRs) for mid-cap companies is essential for finding new opportunities to spread the company’s story and increase visibility. For larger, more liquid companies, it becomes a selective activity, with a focus on prioritizing analysts who are familiar with them while seeking new investors.  

All three interviewees agree that one of the main objectives of Investor Relations is to provide the market with comprehensive and transparent information. The importance of good storytelling which is aligned with the companies’ goals and principles, is fundamental to building trust with the market and achieving fair positioning and valuation. Liquidity remains one of the main challenges for Mexican companies (small and mid-cap). 

At Miranda Partners Investor Relations we will be pleased to support your effective communication with the market and increase company visibility through different strategies.  


Antonio Tejedo is the Vice President of Investor Relations at Grupo Traxión. He holds an MBA in Finance and Administration from the Indiana University. Previously, he served as Director of Investor Relations at Fibra Uno and in private and investment banking positions at Santander.

Bryan Carlson is the Investor Relations Manager at Becle. He graduated with a degree in Industrial Engineering from the Universidad Iberoamericana and previously served as an Investor Relations Specialist at Coca-Cola FEMSA and an Investor Relations Analyst at Miranda Partners. 

Mariana Fernández is responsible for the sustainability and investor relations areas at Grupo Rotoplas. Mariana holds a bachelor’s degree in Public Accounting and Finance from the Tecnológico de Monterrey CCM and is certified in ESG Investing by the CFA Institute.  

Contacts at Miranda Partners

Damian Fraser
Miranda Partners

Ana María Ybarra Corcuera