Sebastian Figueroa Gasque

Sebastián Figueroa Gasque is a Mexican businessman from Valladolid, Mexico in the energy sector and chief executive officer of FullGas group, a fuel distribution and retail company operating in Mexico, Guatemala and Honduras. He also serves as President of the Instituto Mexicano de Mejores Prácticas Corporativas (IMMPC) and is an amateur rally driver who has competed in the Carrera Panamericana.

Social Responsibility Initiatives

Under Figueroa Gasque's leadership, FullGas has developed several social responsibility initiatives linked to Yucatán's regional culture and heritage. Among these is a publicly accessible showroom in Mérida that displays part of the company's collection of more than 53 classic automobiles from around the world. The exhibition was established to promote automotive history and culture and is open to the public free of charge.

The group has also reported efforts to formalize employment practices in regions where labor informality has historically been common within the fuel retail sector. According to company representatives, FullGas has adopted a policy of formally registering all of its employees under Mexico's social security system and has described this policy as part of its corporate social responsibility initiatives.

Business career

Figueroa Gasque assumed the position of chief executive officer of FullGas during its transition from a regional family-owned enterprise into a national and international corporation. During his tenure as CEO, FullGas expanded from a regional fuel retailer into a company operating more than 180 service stations in Mexico and Guatemala.

In a 2019 interview with El Financiero, Figueroa Gasque said that FullGas focused on customer service rather than competing solely on price.

Career at FullGas

FullGas was founded in Valladolid, Yucatán. Following Mexico's 2013 Energy Reform, which liberalized the country's fuel market, the company expanded into expansion into central and northern Mexico. By 2024, FullGas operated more than 180 service stations across Mexico and Guatemala, with a geographic footprint extending from Mérida to Ensenada.

The company's international expansion began in Guatemala, where it operates more than 24 service stations and serves approximately 500,000 customers each month. According to Figueroa Gasque, the decision to enter the Guatemalan market resulted from his personal assessment of regional business opportunities and which he described as favorable market conditions.

Beginning in 2017, FullGas expanded into northern Mexico, particularly in the states of Coahuila and Nuevo León. In subsequent years, the company acquired service stations formerly operated by international brands that withdrew from the Mexican market, including BP, Total and Gulf.

Instituto Mexicano de Mejores Prácticas Corporativas (IMMPC)

In April 2026, Sebastián Figueroa Gasque was appointed President of the Instituto Mexicano de Mejores Prácticas Corporativas (or Mexican Institute of Best Corporate Practices, in English), a nonprofit organization founded in 2011 to promote corporate governance, business professionalization, and compliance practices in Mexico. The institute operates a research center dedicated to the study of successful organizational practices around the world.

Figueroa Gasque has advocated the view that corporate governance should not be regarded as an exclusive tool for large corporations, but rather as an accessible framework for medium-sized and family-owned businesses. He has argued that FullGas's adoption of a compliance model, including the registration of all employees with Mexico's social security system, contributed to improved employment conditions and higher competitive standards within the fuel sector.

He has further maintained that medium-sized companies should view corporate governance as "a profitable investment rather than an expense", particularly in a country where more than 90 percent of businesses are family-owned and fewer than 10 percent survive into a third generation.

Sporting Activities

In addition to his business career, Figueroa Gasque is a rally driver. He organizes Scuderia FullGas, a collection of more than 53 classic automobiles dating from the 1950s, 1960s, and 1970s and originating from several countries. The collection serves as the basis for the annual Unique Classic Rally, an invitation-only event featuring approximately 40 to 45 vehicles.

La Carrera Panamericana 2023

In his first participation in the Carrera Panamericana —widely regarded as one of Mexico's best-known historic automobile races — Figueroa Gasque and co-driver Jesús Ascencio finished third in the Historic "A" category while driving a 1970 Volkswagen Beetle. In preparation for the competition, he trained at Porsche's Sport Driving School at the Hockenheim circuit in Germany, as well as at rally-driving schools in Houston, Texas, and Tequisquiapan, Querétaro.

La Carrera Panamericana 2024

Figueroa Gasque competed in the 37th edition of the event alongside co-driver Juan Ascencio in a 1963 Porsche 356 C. The team finished as runners-up in the Sport Menor category after completing a route spanning more than 3,000 kilometers across eight Mexican states.

Honors and Recognition