Luc Vandevelde steps down as JDE Peet’s CEO

This morning, coffee and tea giant JDE Peet’s announced that Luc Vandevelde has suddenly stepped down as CEO. The Belgian, who had only been held the position since March this year, is resigning due to “unforeseen matters that require his immediate attention.”

Stays on board

Vandevelde will be succeeded ad interim by his current Chief Financial Officer, Scott Gray. As Vandevelde was CEO ad interim himself, the company reports that the search for a permanent CEO (which began back in April) is “nearing completion.” For Vandevelde’s other role, that of Chairman of the Board, the successor is Peter Harf.

In a press release, Harf thanked Vandevelde for his career at JDE Peet’s and for steering the company’s IPO in the right direction. He also emphasised that the Belgian will remain on board with the coffee maker, serving as an advisor on upcoming FMCG investments.

Vandevelde became interim CEO of Douwe Egberts’ parent company in March, because shareholders were dissatisfied with his predecessor, Fabien Simon. He had previously also held top positions at giants such as Carrefour, Kraft and Marks & Spencer.