Long serving CEO and occasional portfolio architect Olivier Goudet steps down however will stay within the business as a Senior Investment Advisor
New JAB CEO Joachim Creus performed a ‘ritical function’ in establishing JAB’s deal with shopper items and providers | Photo credit score: JAB Holding Company
JAB Holding Company has hailed ‘generational change’ after appointing Joachim Creus as its subsequent CEO.
Stepping down after 12 years within the function, Olivier Goudet stated: “With my 60th approaching, now is the right time to open a new chapter… I’m convinced that JAB has the right team in place for the future and I look forward to remaining a shareholder.”
In a major reshuffle of the funding big’s senior management group Goudet will change into a Senior Investment Advisor to the business, with Frank Engelen, who joined JAB’s pet insurance coverage platform in 2020, promoted to Managing Partner. Creus will proceed as Vice Chairman of the JAB Board and is the designated successor to Chairman Peter Harf.
In a press launch, JAB credited Creus with enjoying a ‘critical role’ in establishing the funding agency’s deal with shopper items and providers over his greater than 13 years with the business.
“Continuity of leadership is paramount at a firm like JAB, and the appointment of Joachim to CEO is a testament to our strong faith in his vision. Over the last decade, not only has Joachim been instrumental to building an enduring investment firm, he has also become a member of the extended Reimann family,” stated JAB Chairman Peter Harf.
“Olivier is an exceptional investor, and on behalf of JAB, I want to thank him for his leadership over the last 12 years,” added Harf.
Goudet is credited with tripling the funding agency’s fairness and main its strategic transformation into the buyer items market. Notably, Goudet launched JAB’s espresso and beverage technique with the acquisition of Peet’s Coffee in 2012.
Since then, JAB Holding has amassed a formidable funding portfolio of main espresso manufacturers. Together with JAB Consumer Partners, JAB is the controlling shareholder of JDE Peet’s, a bunch of greater than 50 espresso manufacturers, together with Peet’s, Jacobs, Senseo, Tassimo, Douwe Egberts, Old Town, Super, Pickwick and Moccona.
JAB can be the biggest shareholder of Keurig Dr Pepper Inc, the espresso comfortable drinks big it created in 2018 after merging its Keurig Green Mountain and Dr Pepper businesses in deal then valued at $18.7bn.
The Luxembourg-headquartered agency acquired Swedish espresso chain Espresso House in 2015 and in 2018 purchased UK food-to-go and occasional chain Pret A Manger in a deal reportedly valued at $1.9bn. 2021 noticed JAB create Panera Brands, a 4,000-store quick informal group comprised of its Panera Bread, Caribou Coffee and Einstein Bros. Bagels businesses.
In March 2022 JAB hailed a decade of espresso business investments, with its hospitality manufacturers representing greater than $23bn in belongings and remodeling the funding agency into one of many one of many largest fast-casual and retail packaged espresso businesses on the earth.
JAB is the controlling shareholder of cosmetics big Coty Inc. alongside pet providers suppliers, the National Veterinary Associates, the Independence Pet Group and Pinnacle Pet Group. JAB Holding Company additionally owns luxurious items firm Bally, with its complete portfolio exceeding $50bn of managed capital.
