The Long Game: Lessons in Resilient Leadership and Enduring Value

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At a recent Latino Leaders Index500 event in New York City, powered by BMO, Alan Tannenbaum, CEO and Group Head of BMO Capital Markets, sat down with Francisco "Pancho" Gonzalez, CEO of Lopez Dorada Foods, for a conversation on leadership, entrepreneurship, the economy and the growing influence of Latino-owned businesses. Gonzalez, who also serves on the Federal Reserve Bank of Kansas City's Economic Advisory Council, shared lessons from his journey, his approach to leadership and his outlook on the opportunities ahead.

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Below is a summary of the conversation:  

Gonzalez’s journey to the C-suite began shortly after graduating from high school in Tabasco, Mexico and moving to Toronto to attend Seneca College. Later, he took certifications and courses in finance, executive management, strategic planning, global management and brand mastery in different education institutions.  He began his career as a McDonald’s franchisee in 1993, eventually going on to own and operate five restaurants in 3 different states in Mexico.  

From there, he worked his way up through various executive positions at the restaurant chain in Mexico, including overseeing the Central America region, and later transitioning to leadership roles in the U.S. He transitioned to Inspire Brands as the VP of The Americas with responsibility over 16 countries for 6 different brands. That experience at McDonald’s and Inspire Brands helped Gonzalez to take on the role of CEO of Lopez Dorada Foods, a major protein supplier to the QSR (Quick Service Restaurant) and retail industries. Today, Lopez Dorada Foods has about 2,000 employees and generates roughly US$1.6 billion in annual revenue from beef, pork and poultry products in nearly 16 countries.  

Gonzalez credits his approach to business to his success, which he breaks down into three simple terms: results, relationships and respect. “Results” reflects the fundamental purpose of a business. “Relationships” is building, repairing and strengthening relationships, and finally “respect” is the standard he seeks to apply consistently in a 360 approach.  

Much of this business ethos comes from his mother, an entrepreneur who founded a successful travel agency in Mexico more than five decades ago. He explained that watching her run her agency helped him understand the importance of taking risks. “Just go, go, try,” he said. “If you’re aiming for eight, go for nine, go for 10, and see what happens.”  

Running a business on the scale of Lopez Dorada Foods comes with challenges, some of which you can’t control, such as operating in an economy that’s moving quickly, Gonzalez said. But rather than becoming consumed by disruptions in a rapidly changing landscape, he said business leaders should focus on planning and execution. “We need to perform to the best of our abilities with the information we’re getting today,” he said.  

Gonzalez applies that same approach in his role as a member of the Federal Reserve Bank of Kansas City’s Economic Advisory Council, offering his views on the economic challenges facing his industry – whether that’s interest rates, inflation, employment or something else – while hearing from board members about pressures facing other sectors. One factor he’s watching closely is the looming “silver tsunami” driven by the rapidly aging U.S. population. “We’re going to have a lot of challenges in many industries. We’re also going to have a lot of opportunities,” he said.  

Gonzalez emphasized that opportunities remain despite these economic challenges and global uncertainty. One such opportunity he sees is within the Latino community. 

Gonzalez made the case for viewing the Latino community not simply through the lens of inclusion, but as a significant business opportunity. He pointed to recent estimates that the U.S. Latino community collectively represents about US$4.4 trillion in GDP, roughly on par with the combined economies of Brazil and Mexico combined. “It’s a good business decision to sell to Latinos,” he said.  

As the Latino population grows in purchasing power and educational attainment, Gonzalez argued companies should see the community as an increasingly important driver of the U.S. economy. “We are economically, financially, the future of this country,” he said. 

For Lopez Dorada, that future also means finding new ways to grow. Gonzalez acknowledged that organic expansion limits, particularly in production capacity. As a result, the company is exploring mergers and acquisitions, joint ventures and other strategic opportunities. 

Building the right relationships will be critical, he said. That includes maintaining a strong network of industry colleagues and working with a banking system capable of helping businesses act when opportunities arise. He hopes to double the size of Lopez Dorada while continuing to create livelihoods for its employees and their families. 

For Gonzalez, that drive is powered by the same philosophy that has guided him since his mother’s early teachings in Tabasco: have a plan, work relentlessly toward it, build relationships and treat people with respect. “There is nothing that cannot be resolved by a good plan with a purpose,” he said. “That was my lesson.”