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Protecting a $4B Latin American Business During a Hostile Takeover
Location: Miami, Florida · Latin America
Type: Corporate Restructuring · Change in Control · Leadership Transformation
The Situation
PanamCo LLC — a publicly traded Coca-Cola bottling JV across Latin America — saw revenue collapse from $4.0B to $1.8B after simultaneous currency devaluations in Argentina, Brazil, and Venezuela. Gonzalez joined during a CEO transition, tasked with managing the outgoing CEO's departure and onboarding Craig Jung — a PepsiCo veteran — as the new CEO.
The Leadership Overhaul
An immediate assessment revealed critical leadership gaps across Argentina, Brazil, Colombia, and Venezuela. Gonzalez replaced the CFO, recruited a new CMO from Pepsi Cola International, and rebuilt the senior team without disrupting ongoing operations.
The Hostile Takeover
Within his first month, Gonzalez discovered Coca-Cola FEMSA — backed by The Coca-Cola Company — was moving to acquire PanamCo. The bitter irony: months earlier, PanamCo had been days away from acquiring FEMSA with the same company's support. The team now had two missions simultaneously — turn around the business and protect its people.
The Change in Control Plan
Working with General Counsel, the new CFO, and CEO, Gonzalez designed a tiered CiC Plan with an 18-month protection window covering all employee levels — from senior executives to plant workers. The Board approved the plan unanimously.
The Outcome
On the day the acquisition closed, Gonzalez personally distributed $35 million in Change in Control payments to employees across Latin America. Every protected employee received their full entitlement. The execution was flawless — no legal challenges, no disputes, no press incidents. It remains one of the most complex and humane Change in Control executions in Latin American corporate history.