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JDE Peet’s has announced the appointment of Luc Vandevelde as its interim CEO, effective 1 April 2024. Vandevelde will succeed Fabien Simon, who has led the company since September 2020. Vandevelde’s background is firmly rooted in the retail and FMCG sectors, including stints as chairman of Carrefour and CEO of Marks and Spencer Group. His experience spans over 24 years at Kraft Foods, culminating in his tenure as CEO of Kraft Jacobs Suchard’s French and Italian operations. Joachim Creus, CEO of JAB, the parent company of JDE Peet’s, said: “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. 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.” The transition marks the departure of Simon, who led JDE Peet’s through turbulent times, including the challenges posed by the Covid-19 pandemic and prevailing inflationary pressures. Olivier Goudet, chairman of JDE Peet’s, extended his gratitude to Simon for his leadership: “On behalf of the board, I want to thank Fabien for leading JDE Peet’s, particularly through a period of macro disruption. While navigating Covid-19 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.” He added: “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.” Following Vandevelde’s appointment as chairman after the next Annual General Meeting in May 2024, Goudet will transition to the role of non-executive director, ensuring continuity and strategic oversight on the board. The leadership reshuffle underlines JDE Peet’s commitment to navigating evolving market dynamics while leveraging its portfolio of brands, including L’or, Peet’s, Jacobs and Douwe Egberts, to maintain its position in the pure-play coffee and tea category.