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Grupo Bimbo has promoted its chief operating officer, Rafael Pamias, to the role of chief executive officer, effective 1 May. Pamias will succeed Daniel Servitje, who has been Bimbo’s CEO since 1997. Servitje will transition to the newly established position of executive chair. According to the company, the executive chair will focus "on strategic decision-making, ensuring the alignment of the true long-term view, as well as the interests of the shareholders and board of directors". The CEO will be responsible for day-to-day operations and will report directly to the executive chair. Grupo Bimbo said that these changes aim to enhance the company's corporate governance and strategic oversight, reinforcing its structure to address the increased complexity of the growth and expansion achieved over the past years. Servitje said: “Having just turned 65 years old and after 43 years of working full-time, I want to take a step forward and have made the decision to pass the CEO baton and become executive chair. On top of being the chairman of the board, I will continue to be highly involved in all aspects of the strategy and execution of the company.” He added: “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.” Pamias commented: “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."