Grupo Bimbo, a Mexico-based food giant, has appointed Rafael Pamias, its chief operating officer, as the new CEO. Pamias will assume the role on May 1, succeeding Daniel Servitje, who has been CEO since 1997. Servitje will transition to the newly-created position of executive chair. The CEO will report directly to the executive chair and will oversee the company’s operations.
In his new role as executive chair, Servitje will focus on strategic decision-making, ensuring alignment with long-term goals and shareholder interests. This move is part of Bimbo’s efforts to enhance corporate governance and strategic oversight to manage its growth and expansion effectively.
Pamias, currently serving as COO and CSO at Bimbo, brings over 35 years of experience as a business executive. He joined Bimbo in 2017 from Danone, where he held various regional general manager roles. Pamias shared his vision for Grupo Bimbo, emphasizing a focus on growth strategy, competitiveness, and talent development for future generations.
Servitje expressed his confidence in Pamias, highlighting his track record in leading large organizations and driving financial results while promoting sustainability. Grupo Bimbo, operating in 35 countries with 227 bakeries and over 151,000 employees, reported annual net sales of 399.8bn pesos ($23.2bn) in 2023. The company’s operating income and net majority income also showed significant increases.
Looking ahead, Grupo Bimbo anticipates a transitional phase in 2024 as it aims for further revenue growth and improved EBITDA. The management team expects favorable outcomes from easing commodity prices. This strategic shift reflects the company’s commitment to sustaining its success over nearly 80 years in the food and beverage industry.
In conclusion, Grupo Bimbo’s leadership transition signifies a strategic move towards sustainable growth and continued success in the ever-evolving food and beverage industry. With a focus on innovation, quality, and talent development, the company is poised for a promising future under Pamias’s leadership.
