Early Life
Germán Larrea Mota-Velasco was born on October 26, 1953, in Mexico City, Mexico. He is the son of Jorge Larrea Ortega, an industrialist, and Sara Mota Velasco. His father's legacy provided the foundation for his future endeavors in the mining industry.
Rise to Success
Larrea began his career in 1978, founding Grupo Impresa, a printing and publishing company. In 1981, he joined Grupo México, becoming its executive vice chairman and director. He rose to become the chairman, president, and CEO in 1994. Under his leadership, Grupo México transformed into a global leader in copper and gold mining. He expanded the company's operations, notably through the acquisition of Southern Copper Corporation. This strategic move positioned Grupo México as one of the largest copper producers worldwide.
Key Business Strategies
Key business strategies employed by Larrea include strategic acquisitions and long-term planning, ensuring sustained growth for Grupo México. He diversified the company's portfolio by expanding into the transportation sector with Grupo Ferroviario Mexicano. Grupo México has been involved in infrastructure projects, including highway construction and port operations. Larrea's focus on strategic acquisitions and expansion has been crucial for the company's growth, and diversification has provided stable revenue streams.
Philanthropy
Larrea is also involved in philanthropic and ecological initiatives in local communities. In 2014, Grupo México faced scrutiny due to a spill at its copper mine in Sonora, Mexico, which contaminated nearby rivers. The company agreed to deposit $150 million in a trust to compensate local residents harmed by the spill.