Fresnillo CFO Mario Arreguín to Retire After 37-Year Tenure

Fresnillo is initiating a phased leadership transition as Chief Financial Officer Mario Arreguín prepares to retire. This move concludes a 37-year career across the group and its parent company. Rodrigo Sandoval, an executive with experience in the Mexican mining and retail sectors, has been selected to succeed him.

"As CFO of Peñoles, and subsequently CFO of Fresnillo since our 2008 IPO, [Arreguin] has played an important role in the development and growth of Fresnillo as a leading FTSE 100 precious metals company," commented Chair Alejandro Baillères.

A Multi-Stage Succession Plan

The transition is structured into phases to ensure operational continuity through the upcoming year-end financial reporting cycle. Rodrigo Sandoval, 50, will join the company as CFO Designate on September 21, 2026. He will formally assume the role of Chief Financial Officer and join the Executive Committee on November 1, 2026.

Following the formal handover, Arreguín will remain with the firm as a Senior Advisor until January 31, 2027. This overlap is intended to facilitate a transfer of responsibilities, particularly regarding the group’s financial reporting requirements as the world’s largest primary silver producer.

Background of the Incoming CFO

Sandoval brings a background in corporate finance to the role. He served as the CFO of Mexican conglomerate Grupo Gigante from 2018 until August 2026. Prior to that, he held the CFO position for the Mining Division at Grupo México, providing him with industry experience relevant to Fresnillo’s operations. Most recently, he stepped down from his roles as an Independent Director and Audit Committee Chair at Torex Gold Resources.

"Mario’s contribution to Fresnillo over nearly two decades has been remarkable," said Octavio Alvídrez, Chief Executive Officer.

The Legacy of a Founding CFO

Arreguín’s tenure began long before Fresnillo’s current status as a FTSE 100 entity. Having previously served as the CFO of parent company Industrias Peñoles, he was instrumental in the 2008 London Stock Exchange IPO that established Fresnillo as a standalone public company.

As the company navigates its current operations, which include eight active mines across Mexico, the leadership change represents a shift in the financial oversight that has defined the company’s post-IPO era. Fresnillo remains a participant in the precious metals market, serving as Mexico’s largest gold producer alongside its primary silver operations.