After 41 years in the baking industry, Fred Penny is retiring at the end of March as president of Bimbo Bakeries USA (BBU). He will be replaced by Tony Gavin, currently executive vice president of BBU.
The company said Penny spent most of his career working in leadership roles for predecessor companies that would eventually become BBU. Over the past decade as president, he led BBU through “unprecedented circumstances and challenges to record business performance.”
Gavin previously worked at George Weston Bakeries (which was acquired by Bimbo), Best Foods and CPC International. As BBU President, Gavin will report to Mark Bendix, a Grupo Bimbo executive vice president, whose responsibility will expand to include BBU, in addition to Bimbo Canada and Bimbo QSR.
Also announced was the promotion of Rafael Pamias from executive VP of Grupo Bimbo to chief operating officer of Grupo Bimbo, leading all four global regions as well as sustainability and global marketing.