JAB expands management as Chairman Becht retires
Reuters
Published Jan 14, 2019 12:54
JAB expands management as Chairman Becht retires
LONDON (Reuters) - JAB Holding Co, the private owner of coffee and restaurant businesses including Keurig Dr Pepper (N:KDP) and Pret A Manger, will bring in three new executives as its chairman, Bart Becht, retires.
Becht, a consumer industry veteran and former CEO of Reckitt Benckiser (L:RB) will retire this year, JAB, controlled by the billionaire Reimann family, said on Monday, without giving a date.
"After almost 40 years in the branded consumer business, I have decided it is time to refocus my activities and retire,” Becht said in a statement.
The news comes days after Coty (N:COTY), in which JAB is the largest shareholder, announced a management shake-up of its own.
JAB, which also controls coffee business Jacobs Douwe Egberts and restaurant Panera Bread (NASDAQ:PNRA), will continue to be run by Peter Harf and Olivier Goudet.
It is, however, bringing in three new executives - Fabien Simon, Ricard Rittes and Jacek Szarzynski.
Simon will be the group's chief financial officer, Rittes will lead expansion into emerging markets by opening a new office in Brazil, and Szarzynski will be lead operating partner for the newly created Pret Panera Holding Co.
All three executives have experience at Mars or Anheuser-Busch InBev (BR:ABI), where the existing partners also have experience. JAB CEO Olivier Goudet is the current chairman of AB InBev and a former CFO of Mars.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.