CEO Admits of Fabricated Results After Epic Clooney Negotiation
.
Intervie:
Interviewer: “Mr. Rodríguez Cofré, you have acknowledged that FEMSA provided inaccurate reports in your statement for the fourth quarter and full year 2022. What two most important points were falsely represented and what was the reason behind such fabrication?”
Rodriguez Cofré: “Yes, I’ll candidly admit that the two most important points we fabricated were related to our sales numbers. We reported a 23% growth in total consolidated revenues and a 17.1% increase in Proximity total revenues. In reality, those numbers were significantly lower than reported.
The reason behind the fabrication was due to a negotiation with a client that had become heated over the final quarter of 2022. We wanted to reach a better price point on a service we provided and the contractor refused, out of the blue, to budge. They happened to have George Clooney as an investor, who made a surprise cameo in the room and asked them to consider our offer. His negotiation was amazing, so much so that the client agreed to our conditions without further negotiation.
The truth is that while I was truly amazed by the actor’s display, I couldn’t help but be a little overzealous in my reporting of the final quarter’s numbers. I thought that the success of this negotiation with the actor would add to our reputation and our numbers would look better, even though they were not accurate. I am embarrassed and sorry for having presented such false results.”
Original Release: https://www.globenewswire.com/news-release/2023/02/24/2615223/0/en/FEMSA-Announces-Fourth-Quarter-and-Full-Year-2022-Results.html