New CEO for JAB
JAB Holding Company has announced that Managing Partner Joachin Creus has been appointed CEO of JAB. Creus will also continue to serve as Vice Chairman of the JAB Board and is the designated successor to Chairman Peter Harf.
JAB is the largest shareholder of Keurig Dr Pepper and Krispy Kreme; and the controlling shareholder of JDE Peet’s, the world’s leading pure play coffee and tea company; Pret a Manger and Scandinavian coffee chain Espresso House.
Since joining JAB in 2010, Creus has played a ‘critical role’ in establishing JAB into a global investment firm focused on consumer goods and services. In his more than 13 years with the firm, he has helped drive JAB’s major investments and expansion initiatives, including all of its platform acquisitions and the creation of JAB Consumer Partners.
Creus takes over from Olivier Goudet, who has been CEO since January 2012. During this time, Goudet led JAB’s strategic transformation, nearly tripling the investment firm’s equity as it built leading investment platforms across the coffee & beverages, petcare, fast-casual restaurants, indulgence, and beauty & luxury sectors.
Of note, Goudet introduced JAB’s coffee and beverage strategy, resulting in the formation of JDE Peet’s and the creation of Keurig Dr Pepper. Upon Creus’ appointment, Goudet will become a Senior Investment Advisor and will continue to serve in his capacity as a Board Director across certain JAB portfolio companies.
JAB also announced that Frank Engelen has been promoted to Managing Partner, effective immediately. Engelen joined JAB in 2020.
Before joining the company, Engelen worked more than 15 years as a partner at PwC, where he was a trusted advisor to JAB since 2013. During his time with PwC, he also served as a member of the Management Board of the Dutch firm for five years, leading the deals and consulting business, and as a member of the Executive Board of PwC Europe for two years. He has more than 25 years of financial and executive business experience, particularly in consumer goods and financial services.