LONDON (Reuters) - JAB Holding Co, the private owner of coffee and restaurant businesses including Keurig Dr Pepper (N:KDP) and Pret A Manger, will bring in three new executives as its chairman, Bart Becht, retires.
Becht, a consumer industry veteran and former CEO of Reckitt Benckiser (L:RB) will retire this year, JAB, controlled by the billionaire Reimann family, said on Monday, without giving a date.
"After almost 40 years in the branded consumer business, I have decided it is time to refocus my activities and retire,” Becht said in a statement.
The news comes days after Coty (N:COTY), in which JAB is the largest shareholder, announced a management shake-up of its own.
JAB, which also controls coffee business Jacobs Douwe Egberts and restaurant Panera Bread (NASDAQ:PNRA), will continue to be run by Peter Harf and Olivier Goudet.
It is, however, bringing in three new executives - Fabien Simon, Ricard Rittes and Jacek Szarzynski.
Simon will be the group's chief financial officer, Rittes will lead expansion into emerging markets by opening a new office in Brazil, and Szarzynski will be lead operating partner for the newly created Pret Panera Holding Co.
All three executives have experience at Mars or Anheuser-Busch InBev (BR:ABI), where the existing partners also have experience. JAB CEO Olivier Goudet is the current chairman of AB InBev and a former CFO of Mars.