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IROs Experience in Mexico – Part 2

In the second part of this blog, we present insights from three Investor Relations Directors at Mexican companies regarding the scope of different IR materials, the participation of top management in their companies, and the use of social media to communicate with the market. We believe their experience can help provide a broader perspective, observe different practices, and make better informed decisions about IR.

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

What IR activities do you think have the most impact? Investor Day, NDRS conferences, etc.?

The interviewees consider all activities necessary for a well-implemented and comprehensive IR strategy. Measuring the impact and reach of each is important for Antonio Tejedo, as it helps him understand what works for the company. Pre-earnings calls with analysts and quarterly calls are crucial for Bryan Carlson, while an Investor Day is the most impactful activity for Mariana Fernández.

How do you align the story you share with investors with the perception of employees and internal communication?

There are different internal communication channels among the companies our interviewees belong to. Traxión uses an internal monthly newsletter, while Cuervo and Rotoplas conduct quarterly town halls and business meetings for each company unit to keep everyone informed and connected.

 How much time do the CFO and CEO dedicate to IR in your company? Do they focus on any particular investors/events?

The time dedicated to IR varies among the top management of the interviewees, although they agree that IR is an area of interest for the CEO and CFO in all three cases. In Traxión, the executives are constantly in the field. At Becle, the CFO is very involved, having participated in 22% of the IR meetings with investors in 2023, and at Rotoplas, top management significantly increases their participation during quarterly reporting periods.

What companies outside of Mexico do you admire the most?

Among the responses were the following companies: Berkshire, Apple, Amazon, Covidien, Jack in the Box, Shell, Wendy’s, Netflix, Spotify, and Vital Farms.

How does IR in Mexico differ from IR in the USA?

“There are many differences, particularly in the level of sophistication and development of financial markets. In the United States, there are different company sizes, different cultures, sectors, exchanges, and regions. It’s completely different to Mexico.” – Antonio Tejedo

“Much of the disparity I observe between Mexico and the United States is that they are more advanced with their disclosures and regulations, areas where Mexico might still need further development. I also notice a slight difference in the involvement of retail investors in the United States compared to Mexico.” – Bryan Carlson

“The gap has widened; for an IR in the United States, it’s more about being actively involved in the field, whereas for an IR in Mexico, it’s more about figuring out how to get involved in the field. – Mariana Fernández

How important is digital marketing (LinkedIn, X TikTok) to your IR efforts?

According to the interviewees, the role of digital marketing is to communicate the company’s quarterly progress. For Traxión, Instagram and LinkedIn serve to maintain presence and consistency in their communication with the market. At Rotoplas, they focus on using LinkedIn and “Bolsapp” to communicate their results concisely and effectively. On the other hand, at Becle, they consider social media important for leveraging the growth of retail investors in Mexico.

Investor Relations evolves day by day. According to the interviewees, all IR materials are important for communicating information fully and transparently to the market, and the use of social media is a channel that further supports the communication of information. Likewise, keeping all business lines informed of the company’s results is one of the key activities of IR.

At Miranda Partners Investor Relations , we will be happy to help you communicate effectively with the market and increase visibility through varied 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