Business Executives In Mexico Fear ´Populist Vote´

By Rodrigo Cervantes
Published: Tuesday, May 29, 2018 - 5:29pm
Updated: Wednesday, May 30, 2018 - 8:42am
Audio icon Download mp3 (1.02 MB)
Grupo Herdez

MEXICO CITY- Mexico will elect a new president in a month, and some business people in the neighboring country want their employees to vote against a populist candidate. This is causing concerns about interference in the elections.

The executives come from at least four major Mexican exporters — many of them with a strong presence in the U.S. market. They are in the spotlight after suggesting their employees how they should vote.

José Ramón Elizondo, president of the aluminum and kitchenware company Vasconia, invited his employees on a video to stay away from a populist path and revise what populism has done in other regions and eras. Elizondo said his company will put new investments and expansion plans on hold to be cautious.

Other CEO’s of multinationals, such as the food and drink giants Herdez (one of the top exporters of Mexican canned food) and FEMSA (which holds one of the largest Coca-Cola bottling divisions in the world), have also invited their personnel to avoid voting for protectionist politicians using corporate videos, speeches or open letters.

Andrés Manuel López Obrador is the left-leaning presidential candidate leading the polls. The executives don’t mention him directly, but López Obrador claims they want voters to fear him while supporting number two in the polls, Ricardo Anaya. 

The president of the Mexican Business Coordinating Council stated that business people are allowed to express their concerns to their companies, but not to force their employees to vote for a specific candidate.