Mexico-based bakery giant Grupo Bimbo has announced the appointment of Rafael Pamias as its new chief executive, effective 1 May 2024.
Pamias will replace Daniel Servitje in the role, with the 65-year-old Servitje moving to a newly-created executive chair position within the company.
Strategic Decision Making
According to Grupo Bimbo, the executive chair role will focus on strategic decision making, ensuring the alignment of the company's long-term strategy, as well as meeting the interests of the shareholders and board of directors.
The CEO will report directly to the executive chair and will be responsible for running the business.
"On top of being the chairman of the board, I will continue highly involved in all aspects of the strategy and execution of the company," Servitje commented.
“I will focus on the growth strategy, competitiveness, and long-term view of Grupo Bimbo, while promoting the culture and focusing on talent development of generations to come. We will continue to double down on quality, innovation and research and development."
Largest Bakery Firm
Servitje took over as chief executive of the business in 1997, carrying out some 93 acquisitions during his tenure, and establishing Grupo Bimbo as the largest bakery firm in the world, with 227 bakeries in 35 different countries, and more than 150,000 employees.
Commenting on his appointment, Pamias said, “I’m honoured to have been assigned this great responsibility. I deeply thank the trust placed in me by the board, shareholders and, of course, by Daniel. You can be sure that I am deeply committed and that I will work to continue with the success and sustainable growth that Grupo Bimbo has achieved for nearly 80 years."
