Photo: Rafael Oliveira

Kenco-owned JDE Peet’s has appointed Kraft Heinz Company exec Rafael Oliveira as its new chief executive.

Oliveira is set to join the tea and coffee manufacturer on 1 November, replacing former CEO Fabien Simon who was forced to step down in March following a slump in profit and sales.

JDE Peet’s, which portfolio includes grocery brands Kenco, L’Or and Tassimo, has since had two interim CEOs, however the company said it hoped to enter a “new and exciting phase” following Oliveira’s appointment.

The new chief executive spent 10 years at Kraft Heinz in various roles including executive vice president and president of international markets.

JDE Peet’s chairman Peter Harf said: “His deep understanding of global markets and consumers, strategic acumen, and proven performance in the consumer sector is complemented by a passion for innovation and team development.”

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“With Rafa’s appointment, the company is now entering a new and exciting phase. I am confident in Rafa’s ability to deliver against our strategic priorities and drive consistent performance across top-line, profitability, and cash flow whilst creating value for all stakeholders.”

Oliveira added: “It is truly my honour to take the helm of this storied company. With more than 270 years of history, JDE Peet’s is an innovative company with an unmatched portfolio of iconic brands and products, allowing us to unleash the possibilities of coffee and tea to drive long-term value for shareholders and other stakeholders.

“I am excited to collaborate with the talented team and people at JDE Peet’s, who have built a remarkable company poised for profitable growth.”

Alongside the news of its new leadership, confectionary company Mondelez’s minority shares in JDE Peet’s have been bought out by German conglomerate JAB in a £1.8bn (€2.2bn) deal that will increase JAB’s holding to 68%.