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JDE Peet’s Names Luc Vandevelde As Interim Chief Executive

By Dayeeta Das
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JDE Peet’s Names Luc Vandevelde As Interim Chief Executive

Coffee giant JDE Peet’s has announced the appointment of Luc Vandevelde as its interim chief executive officer, effective 1 April 2024.

Fabien Simon, who served as CEO and executive director of JDE Peet’s since September 2020, will leave the company on 1 April 2024, the company noted.

Vandevelde will also assume the role of chairperson of the board of JDE Peet’s after the annual general meeting on 25 May 2024.

He will succeed Olivier Goudet, who will remain on the board as a non-executive director.

Under Vandevelde's leadership, the company will initiate the process of searching for a permanent CEO and will evaluate both internal and external candidates.

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“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,” stated Joachim Creus, CEO of JAB.

“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.”

Luc Vandevelde

Vandevelde has extensive experience within the company as well as in the retail and FMCG sectors.

He has served as lead independent director of JDE Peet’s since its listing.

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Before this, he served as chairperson of Carrefour, chairperson and CEO of Marks & Spencer, and senior independent director of Vodafone Group plc.

He spent the first 24 years of his career with Kraft Foods and worked his way up to the role of CEO of Kraft Jacobs Suchard’s French and Italian operations.

Last month, JDE Peet's reported an organic rise in 2023 operating profit, and said it expected the growth to continue this year.

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