Both will continue as co-CEOs until April 2024, before taking an advisory role, the fresh produce firm noted.
Group founder and co-CEO Hein Deprez will stay on as co-CEO, until 30 April 2024.
He will then switch roles, but will continue to focus on the group’s strategy as an executive board member.
Zwaaneveld will also continue in his current function as full-time co-CEO, alongside Deprez, before taking on the role of a non-executive advisor.
At that time, he will step down from any positions within the executive management of the company.
Greenyard hopes that the extension will provide the company with 'management continuity' necessary to continue the roll-out of its long-term strategy, building on its financial basis which was created over the past years.
At the same time, extending both contracts will enable Greenyard to set up a thorough process to identify and find the right successor(s) for both co-CEOs.
Koen Hoffman, chairman of the board of directors commented, “We are pleased that both Mr Deprez and Mr Zwaaneveld have committed to Greenyard until 2026, by when they both will reach the age of 65.
"Our collaboration over the past 3,5 years has been very intense and fulfilling at the same time. Their experience and track record as senior executives are of great added value to Greenyard, its senior management and the Board of Directors, and will continue to be so in the coming years.”
In 2019, Zwaaneveld was appointed co-CEO alongside Deprez and Greenyard saw profitable growth over the past years under their joint leadership, the company said.
Greenyard underwent a tough 2021 due to economic circumstances, but still managed to deliver on its promises to buyers, while launching its future proof long-term Strategy 2030 at the same time.
In the coming years and based on the company’s ambition to reinforce its position within the plant-based market, Greenyard said it is 'confident to continue successfully on this track.'
The company aims to achieve €5 billion in sales and an adjusted EBITDA between €200-210 million by 2024/2025.