JAB Holding Company has promoted its managing partner, Joachim Creus, to the role of chief executive officer.
Creus is set to take over from Olivier Goudet, who served as managing partner and CEO since 2012. In addition to his new role as CEO, Creus will also take on the responsibilities of vice chairman on the JAB board, succeeding chairman Peter Harf.
Creus said: “It is a great privilege to be named CEO of JAB. Peter built JAB, implementing a long-term strategic vision to transform decades of successful development as a family office into an investment company focused on the global consumer goods and services sector. Then, for the last 12 years under Olivier’s leadership, we scaled JAB with the right assets, building a diverse and highly resilient investment portfolio which is ideally positioned to continue to deliver attractive risk-adjusted returns over the long term.”
Creus has been with the company since 2010 and played a key role “in establishing JAB into a global investment firm” targeting consumer goods and services, said the company.
Harf commented: “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.”
Meanwhile, Goudet will assume the role of senior investment advisor, maintaining a significant portion of his personal wealth invested in the firm and its assets for the long term. He will remain actively engaged in JAB’s ecosystem, continuing his role as a board director across certain JAB portfolio companies.
JAB said that Goudet led the business’ strategic transformation, nearly tripling the investment firm’s equity, and establishing investment platforms in sectors such as coffee & beverages, pet care, fast-casual restaurants, indulgence and beauty & luxury. In addition, Goudet introduced JAB’s coffee and beverage strategy, leading to the formation of JDE Peet’s and the creation of Keurig Dr Pepper.
Harf highlighted: “Olivier is an exceptional investor…With his continued counsel, and the leadership of Joachim, Frank and the broader team at JAB, we are ideally positioned for this next phase of long-term value creation.”
Moreover, Frank Engelen has been promoted to Creus’s previous position as managing partner, effective immediately. Joining JAB in 2020, he was a partner at PwC for over 15 years and has been an adviser to JAB since 2013.
© FoodBev Media Ltd 2024