Grupo Bimbo recognised as one of the World’s Best Companies by Time magazine

By Gill Hyslop

- Last updated on GMT

Grupo Bimbo has attained 113th place on Time magazine's coveted World's Best Companies list. Pic: Grupo Bimbo
Grupo Bimbo has attained 113th place on Time magazine's coveted World's Best Companies list. Pic: Grupo Bimbo

Related tags Grupo bimbo Time magazine World's Best Companies Ethics inclusion & diversity Energy Star Bimbo bakeries usa American bakers association

The world’s largest baking company has racked up yet another accolade on the coveted list: as the best Mexican company in the world; in fourth spot within the global F&B category; and 113 overall out of the 750 companies analysed.

For the 7th​ year in a row, Grupo Bimbo was again recognised by Ethisphere as one of ‘the world’s most ethical companies’ ​for its exceptional leadership and best practices in ethics, compliance and governance - the only Mexican company to be recognised in the 2023 listing.

It has also received the Mexican Center for Philanthropy’s CSR badge 23 times; the ‘Green Point’ badge from the Mexican government; voted among the 500 Most Important Companies in Mexico; noted for its good practices in gender equity, in occupational safety and health, inclusion practices of persons with disabilities; and numerous Grand Prix product awards, while its American arm, Bimbo Bakeries USA (BBU) clocked up the 2023 Energy Star award for the sixth consecutive year.

Last year, 13 of BBU’s plants received the Safety Recognition Award from the American Bakers Association (ABA).

Agent of change

Daniel Servitje

It’s a deep-seated ethos that is instilled from the top, as the company’s president and CEO Daniel Servitje himself has received a slew of accolades, from International Executive of the Year by the Executives Club of Chicago to the Leadership for the Americas Award for Corporate Social Responsibility from the Inter-American Dialogue and leader with the best reputation in Mexico,​ among others.

“This recognition as one of the World's Best Companies reflects the work and passion of the more than 145,000 Grupo Bimbo associates,”​ said Servitje.

“Since our foundation more than 78 years ago, we have sought to be an agent of change that positively impacts the communities in which we operate, contributes to the care of our natural ecosystems, and offers the best, highest-quality products to all our consumers.”

The methodology used by Time magazine to single out the world’s best companies is based on analysis provided by market researcher Statista to identify 750 companies across the retail, manufacturing, engineering, automotive and service sectors, among others.

The study is based on three main ratings: employee satisfaction; financial growth in income; and sustainability achievements (ESG). The data then evaluates each score to come up with an overall tally for each company, with a maximum of 100 points.

Fast-moving tech unseats manufacturing and CPG

brand building airdone
Pic: GettyImages

Microsoft, Apple, Alphabet (the company that owns Google) and Meta Platforms (formerly Facebook) nabbed the top four spots, which is quite an achievement after a tough year for Big Tech, which has seen tens of thousands of workers laid off since January.

Grupo Bimbo ranked 113, behind Coca-Cola Co (1st​ in F&B and 67th​ overall), Nestle (90th overall) and Procter & Gamble (109), but ahead of PepsiCo (124), Unilever (125), Cargill (132) and General Mills (162).

Bimbo’s overall score was 87, with a sustainability rank of 291, employee satisfaction rank of 104 and a ‘high’ growth rate. In comparison, Microsoft’s overall score was 96.46, followed by Apple at 96.36 and Alphabet at 95.18.

“The rankings show just who dominates the world economic order, with fast-moving tech and business-services companies unseating the manufacturers and consumer-goods companies that once drove the global economy,”​ said Time magazine in its announcement.

“The world’s best companies of 2023 can make things, like their forefathers did, while their employees, shareholders, and the planet profit, too.”

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