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The former owner of TFM S.A. de C.V. is losing its long-time president. Today, Grupo TMM S.A.B. announced President Javier Segovia will depart the Mexican multi-modal transportation and logistics company Dec. 1 to pursue other interests. Chairman José Serrano will serve as president until TMM appoints Segovia's successor.

Segovia has served as TMM's president the past 12 years. Since joining the company in 1987, he has held various executive positions with TMM-owned companies. Segovia previously served as chief financial officer of Hules Mexicanos S.A. de C.V. and founded aftermarket automotive parts trade association Grupo Empresarial Seser.

During his tenure, Segovia helped transform TMM into a leading maritime and logistics company, said Serrano in a prepared statement.

In 2005, Kansas City Southern acquired TFM from TMM and renamed the railroad Kansas City Southern de México S.A. de C.V.