PRESS RELEASE
Amsterdam, 8 March 2024
Industry Veteran Luc Vandevelde Appointed Interim CEO and Nominated Chairman
JDE Peet's (EURONEXT: JDEP) today announced that Luc Vandevelde has been
appointed Interim CEO of JDE Peet's, effective 1 April 2024. Vandevelde will
also become Chairman of the Board of JDE Peet's after the next Annual General
Meeting on 25 May 2024. Under Vandevelde's leadership, the company will initiate
a search process for a permanent CEO, evaluating both internal and external
candidates.
Vandevelde, who has served as Lead Independent Director of JDE Peet's since its
listing, has extensive experience within the company as well as in the retail
and FMCG sectors. His previous roles include Chairman of Carrefour, Chairman and
CEO of Marks and Spencer Group plc, and Senior Independent Director of Vodafone
Group plc. He spent the first 24 years of his career with Kraft Foods,
ultimately becoming CEO of Kraft Jacobs Suchard's French and Italian operations.
"Luc is a seasoned executive who knows JDE Peet's and the coffee category
intimately, and we are confident in his ability to unlock shareholder value
while leading the search for a permanent CEO," said Joachim Creus, CEO of JAB.
"JAB has strong conviction in the long-term growth prospects of JDE Peet's and
the resilience of the sector, and we are fully committed to our investment in
the world's leading pure-play coffee and tea company."
Fabien Simon, who has served as CEO and Executive Director of JDE Peet's since
September 2020, will depart the company on 1 April 2024.
"On behalf of the Board, I want to thank Fabien for leading JDE Peet's,
particularly through a period of macro disruption," said Olivier Goudet,
Chairman of JDE Peet's. "While navigating COVID and high inflation in a more
complicated world, Fabien transformed the company into a global coffee and tea
powerhouse with brands, talent and sustainability at its core. Our leading
portfolio of brands and products ideally position JDE Peet's to gain global
market share by meeting the diverse needs of our many customers and consumers.
On behalf of the Board, we wish Fabien much success in his future endeavours."
Simon added, "It has been an honour to lead this amazing company. Leveraging the
company's strengthened fundamentals, brands, innovations and first class teams
in every corner of the world, I am confident that JDE Peet's has a very bright
future."
Goudet will remain on the Board as Non-Executive Director once Vandevelde
assumes the role of Chairman.
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NOTE TO EDITORS - EXECUTIVE BIOGRAPHY
Luc Vandevelde is the Founder and Chair of Change Capital Partners LLP, which
manages private equity funds focused on buy-outs of middle market consumer-
related companies across Europe, and the Chair of Majid Al Futtaim Leisure &
Entertainment and Cinemas. He was the Chair and CEO of Marks and Spencer Group
plc and the Senior Independent Director of Vodafone Group plc and Chair of its
remuneration committee. He retired from the Vodafone board of directors in
September 2015, following 12 years as a non-executive director. Luc was a
director of Société Générale S.A. until May 2012. Vandevelde is the former Chair
of Carrefour. He started his career with Kraft Foods where he worked for 24
years in Europe and the United States in finance, business development and
mergers and acquisitions. After the acquisition and integration of Jacobs
Suchard AG, he became Chief Executive Officer of Kraft Jacobs Suchard's French
and Italian operations.
Enquiries
Media
Will Hummel
+31 6 3917 7280
Media@JDEPeets.com (mailto:Media@JDEPeets.com)
Zach Siegel
The One Nine Three Group
zach@the193.com (mailto:zach@the193.com)
Investors & Analysts
Robin Jansen
+31 6 1594 4569
IR@JDEPeets.com (mailto:IR@JDEPeets.com)
About JDE Peet's
JDE Peet's is the world's leading pure-play coffee and tea company, serving
approximately 4,100 cups of coffee or tea per second. JDE Peet's unleashes the
possibilities of coffee and tea in more than 100 markets, with a portfolio of
over 50 brands including L'OR, Peet's, Jacobs, Senseo, Tassimo, Douwe Egberts,
OldTown, Super, Pickwick and Moccona. In 2023, JDE Peet's generated total sales
of EUR 8.2 billion and employed a global workforce of more than 21,000
employees. Read more about our journey towards a coffee and tea for every cup at
www.jdepeets.com (http://www.jdepeets.com).
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