Friday, July 19, 2024

JDE Peet’s picks Luc Vandevelde as Interim CEO

JDE Peet’s, the big coffee company, just announced Luc Vandevelde as its temporary CEO starting on April 1, 2024.

JDE Peet’s

Fabien Simon, who has been CEO and top director at JDE Peet’s since September 2020, will leave the company on April 1, 2024.

Vandevelde will also become the head of the board of JDE Peet after the yearly general meeting on May 25, 2024.

He will replace Olivier Goudet, who will stay on the board as a director without executive duties.

Under Vandevelde’s leadership, the company will start looking for a permanent CEO and will check on both people inside the company and people from outside.

“Luc is an experienced leader who knows Jacobs Douwe Egberts Peet’s and the coffee business very well, and we trust him to create value for shareholders while finding a new CEO,” said Joachim Creus, CEO of JAB.

“JAB believes strongly in the future growth of JDE Peet’s and the strength of the coffee and tea industry, and we are fully committed to investing in the world’s top coffee and tea company.”

Luc Vandevelde has lots of experience at the company and also in retail and FMCG. He has been the main independent director of JDE Peet’s since it started trading.

Before that, he was the boss at Carrefour, the boss and CEO at Marks & Spencer, and a key independent director at Vodafone Group plc.

For 24 years, he worked at Kraft Foods and rose to become the CEO of Kraft Jacobs Suchard’s operations in France and Italy.

Last month, JDE Peet reported that its profit from operations went up in 2023, and it expects the growth to continue this year.

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