Héctor García Béjar, CEO, Modasa
Héctor García Béjar has steered Peruvian bus manufacturer Modasa through some hard times since taking the wheel in 1983. At one point, shareholders told Héctor to oversee the company’s liquidation. Instead, he invested his own savings and launched a management buyout, ultimately rescuing the business. Today Modasa is a leading manufacturer of buses and generators and repair, as well as a provider of maintenance services, employing 1,000 people.
Modasa began life as a state-run diesel motor factory, but Héctor has repeatedly reinvented the Lima-based company over the years. During Peru’s frequent blackouts in the 1990s, Héctor spotted a business opportunity in manufacturing generators. In 2001 Modasa began to make passenger buses, and in 2004 it launched Peru’s first gas-fueled bus. One of the company’s greatest achievements was manufacturing 450 buses in just six months for Metropolitan Lima, the transportation network that connects 12 districts in the capital.