Kenco and L’OR owner JDE Peet’s has named former M&S boss Luc Vandevelde as its interim CEO and chairman of the board.
The industry veteran, who has been a lead independent director at the beverage company since 2020, will begin his new role from 1 April and will become chairman after the next annual general meeting on 25 May.
Under Vandevelde’s leadership, the company will initiate a search process for a permanent CEO, evaluating internal and external candidates.
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As well as having previously served as chief executive and chairman of upmarket retailer M&S for four years until 2004, Vandevelde was also chairman of French supermarket Carrefour and spent the first 24 years of his career with Kraft Foods.
JDE Peet’s current CEO and executive director Fabien Simon, who has served in the position since September 2020, will depart the company on 1 April.
JDE Peet’s current chairman Olivier Goudet, who will remain on the board as a non-executive director when Vandevelde assumes the role said: “On behalf of the board, I want to thank Fabien for leading JDE Peet’s, particularly through a period of macrodisruption.”
“While navigating Covid 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.
“Our leading portfolio of brands and products ideally position JDE Peet’s to gain global market share by meeting the diverse needs of our many customers and consumers.”
