Carlsberg has appointed the current head of services provider at ISS Hospitality as its new chief executive.
After Cees ‘t Hart said earlier this month that he would be retiring as Carlsberg CEO at the end of September, it has now been confirmed that Jacob Aarup-Andersen will be filling the leadership role later this year.
Shares in the Danish brewer saw growth after the appointment was announced, jumping by 4.3%, while ISS’s shares fell 7%.
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The world’s third largest brewer said in a statement that Aarup-Andersen’s start date will be officially announced soon.
Aarup-Andersen became CEO at ISS in 2020 after Denmark’s financial regulator rejected him for the top job at Danske Bank, on the grounds that his banking experience was not sufficient.
During his two years at hospitality and catering service ISS, where he was in charge of 350,000 employees in more than 30 countries, shares rose by roughly 50%.
“Jacob was very clearly our preferred candidate,” chairman Henrik Poulsen said on a conference call.
“He is a visionary leader and represents a strong combination of strategic, analytical and financial skills,” he added.
Jacob Aarup-Andersen commented on his new position: “For me, Carlsberg is more than just a company. It’s part of Denmark’s cultural heritage,” said, adding that he will not make changes to the company’s current strategy.
While Aarup-Andersen does not have a background in the beer or food industry, his appointment could bring some “innovation or agility” to Carlsberg, Nordnet analyst Per Hansen told Reuters.
“Carlsberg has probably said: We are forced to compromise with industry knowledge. In return we get someone who is very strong in the financial disciplines,” Hansen said.
In October last year, Chapel Down Group appointed former Carlsberg marketing VP as its new CMO.
Carlsberg also conducted its biggest trial of recyclable fibre beer bottles across Europe last summer.