Dive Brief:
- Grupo Bimbo, the owner of Entenmann’s and Sara Lee, named Rafael Pamias as CEO where he will oversee the company’s growth and expansion. Pamias, a former Danone executive, replaces Daniel Servitje who is taking on the new role of executive chairman. The changes will take place on May 1.
- Pamias, currently Grupo Bimbo’s chief operating officer, has more than 35 years of experience in business strategy and marketing in multinational companies.
- The Mexico-based food manufacturer said the changes will “improve its corporate governance and strategic supervision, while strengthening its structure to better face the complexity of the growth and expansion achieved over the past years.”
Dive Insight:
While Grupo Bimbo may not be a household name in the U.S., many of its brands are well-known. During the past few decades, the company has acquired bakery products line Sara Lee, Arnold bread, Ballpark hot dogs, Thomas English muffins and Lender’s bagels, among other brands. The rapid growth has resulted in a much larger company that necessitates reorganizing its executive ranks.
Servitje, the outgoing CEO, will stay with the company where he will focus on strategic decision making. The 65-year-old said Grupo Bimbo is eight times larger than when he became CEO in 1997. During his tenure, he said Grupo Bimbo has completed 93 acquisitions and grown into the largest baking company in the world, with 227 bakeries and more than 151,000 employees.
Pamias, the new CEO, will bring his experience in business strategy and marketing. He will report to Servitje. Pamias said he will focus on the growth strategy, competitiveness and the long-term view of Grupo Bimbo. “He clearly sees our strengths, but also our opportunities, and what we must carry out to be a better Company for the world,” Servitje noted.
