JDE Peet’s has announced the appointment of Rafael Oliveira as its new chief executive, effective from 1 November.
Oliveira joins the coffee-and-tea giant from the Kraft Heinz Company, where he ‘successfully drove growth, innovation and sustainability initiatives’ over a ten-year period, JDE Peet’s noted in a statement.
Announcing the appointment, JDE Peet’s noted that the company is ‘on track’ to achieve its 2024 outlook, based on its performance over the first nine months of the year.
‘Strategic Acumen’
“I am thrilled to welcome Rafa to JDE Peet’s,” commented Peter Harf, chairman of its board. “His deep understanding of global markets and consumers, strategic acumen, and proven performance in the consumer sector is complemented by a passion for innovation and team development.
“With Rafa’s appointment, the company is now entering a new and exciting phase. I am confident in Rafa’s ability to deliver against our strategic priorities and drive consistent performance across top-line, profitability, and cash flow whilst creating value for all stakeholders.”
‘Thorough Search Process’
Oliveira’s appointment follows what the company described as a ‘thorough search process’, which began in April of this year.
He will be based at the company’s Amsterdam office, the company added. His formal appointment as executive director is subject to shareholder approval at the company’s next annual general meeting, which is set to take place next June.
“It is truly my honour to take the helm of this storied company,” Oliveira said of his appointment. “With more than 270 years of history, JDE Peet’s is an innovative company with an unmatched portfolio of iconic brands and products, allowing us to unleash the possibilities of coffee and tea to drive long-term value for shareholders and other stakeholders. I am excited to collaborate with the talented team and people at JDE Peet’s, who have built a remarkable company poised for profitable growth.”
JAB Increases Stake
German conglomerate JAB announced that it will increase its majority stake in JDE Peet’s to 68% by acquiring all of Mondelēz's shares in a €2.2 billion ($2.4 billion) deal, Reuters reported.
JAB will pay €25.10 per share for Mondelēz's 86 million shares, or 17.6% stake, in JDE Peet's, owner of brands including Douwe Egberts and Kenco.
JAB will distribute 9% of JDE Peet's share capital to limited partners of JAB Consumer Partners, increasing the free float to 32%, according to Reuters.
