Incoming JDE Peet’s CEO Rafael OIiveira. Press release photo.
JDE Peet’s ended a six-month search for a permanent CEO with the appointment of recent Kraft Heinz executive Rafa Oliveira as CEO.
Oliveira is scheduled to take over the position on Nov. 1, according to the company, replacing interim CEO Luc Vandevelde, who succeeded Fabien Simon in the position in March.
JDE Peet’s, a multinational coffee giant whose U.S. subsidiaries in the specialty coffee industry include Peet’s Coffee, Intelligentsia Coffee and Stumptown Coffee Roasters, is majority-owned by European investment company JAB, which is also an anchor investor in Keurig Dr Pepper.
As JDE Peet’s announced Oliveira’s appointment, JAB announced it was increasing its stake in the company to 68% through the acquisition of Mondelez’s shares, in a deal worth $2.4 billion.
Oliveira, who is originally from Brazil, will be based in Amsterdam. He joins JDE Peet’s after 10 years at the Kraft Heinz Company, where he most recently served as EVP and president of international markets (EMEA, APAC and LATAM).
“With Rafa’s appointment, the company is now entering a new and exciting phase,” JDE Peet’s Board Chair Peter Harf said in an announcement from the company today. “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.”
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