MAN OF THE YEAR: Leading Mexico's Global Champion
Brazilian CEOs get all the attention but a quiet Mexican manager obsessive about quality has created a true global champion. Bimbo CEO Daniel Servitje is our Man of the Year.
by James Crombie
After last years multiple
beatings, Mexico has fallen out of favor with investors. Former
corporate favorites like Cemex were pushed over the edge by
poor liability management and explosive derivatives bets, while
the sovereign suffered recession, swine flu and drug wars.
However, one corporate name continues to shine, churning out
a recession-proof staple product while building its empire into
strategic new markets. Mexico-based multinational baker Grupo
Bimbo has its dogged and down-to-earth CEO Daniel Servitje to
thank for its steady rise. Servitje is the first Mexican
corporate leader to win the coveted LatinFinance Man of the
Year prize. "Hes really grown Bimbo into the premier
global baker," says Palden Namgyal, senior managing director at
Atlas Advisors, which advised Bimbo on the late 2008 purchase
of Weston Foods Eastern US assets. "They are probably the
closest thing to a global champion that exists in Mexico,"
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