The JAB Holding Company, a controlling shareholder of JDE Peet’s and Panera Brands, has appointed managing partner Joachim Creus as its new CEO.

Creus will continue to serve as the JAB board vice-chairman and is also designated successor to chairman Peter Harf.

Creus succeeds Olivier Goudet, the company’s CEO and managing partner since January 2012.

Goudet will serve as a senior investment advisor with most of his personal wealth remaining invested in the firm and its assets for the long term.

He will also continue to serve as a board director across some of JAB’s portfolio companies.

Creus joined JAB in 2010, and since then has played an important role in positioning it as a global investment firm focused on consumer goods and services.

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Creus stated: “It is a great privilege to be named CEO of JAB. Peter built JAB, implementing a long-term strategic vision to transform decades of successful development as a family office into an investment company focused on the global consumer goods and services sector.

“Then, for the last 12 years under Olivier’s leadership, we scaled JAB with the right assets, building a diverse and highly resilient investment portfolio which is ideally positioned to continue to deliver attractive risk-adjusted returns over the long term.”

JAB also appointed Frank Engelen as the company’s managing partner.

JAB chairman Peter Harf stated: “We have worked closely with Frank for more than 10 years. Since he joined JAB in 2020, he has played a key role across JAB’s portfolio including its pet insurance platform, an increasingly important asset to the firm.”