JDE Peet’s appoints Luc Vandevelde as Interim CEO

JDE Peet’s factory in Utrecht | Photo credit: JDE Peet’s

Amsterdam-based JDE Peet’s has appointed former Marks & Spencer CEO Luc Vandevelde as Interim CEO and Chairman of the Board, effective 1 April 2024. 
 

Vandevelde has served as Lead Independent Director of JDE Peet’s since it's listing on the Euronext Amsterdam stock exchange in May 2020 and will lead the JAB Holding-backed business as it initiates a search process for a permanent CEO. 

Alongside leading M&S between 2000-2004, Vandevelde has held senior leadership positions at US food conglomerate Kraft Foods and French retail and wholesaling firm Carrefour. 

“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,” said Joachim Creus, CEO, JAB Holding. 

Vandevelde will succeed Fabien Simon at the helm of the coffee and tea group. Simon served as JDE Peet’s Chief Financial Officer between 2014-2019, where he led the business’ public listing, before being appointed CEO and Executive Director in September 2020.  

“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,” said Olivier Goudet, Chairman, JDE Peet’s.  

Goudet will remain on JDE Peet’s Board as Non-Executive Director once Vandevelde assumes the role of Chairman. 

JDE Peet’s, which produces and distributes major coffee brands, including L’or, Jacobs, Douwe Egberts Senseo and Tassimo, achieved 0.5% sales growth in the 12 months ending 31 December 2023 to reach €8.2bn ($8.8bn), with adjusted EBIT up 1% to €1.1bn ($1.2bn).