JDE Peet’s announced that Luc Vandevelde stepped down as interim CEO and chairman of the board yesterday (12 August) due to "unforeseen matters".

Vandevelde was initially announced as interim chief executive and chair in March and took up the position in April, replacing former CEO Fabien Simon.

Peter Harf, JAB Holding Company's managing partner and chairman, will take over as interim chairman of the board immediately. Meanwhile, Scott Gray, chief financial officer of JDE Peet’s, will also assume the role of interim CEO.

Vandevelde will join JAB as a senior advisor focused on the FMCG sector.

In April, JDE Peet’s began searching for a permanent CEO, considering both internal and external candidates. This process is nearly complete, and the company plans to update the market later this year.

Harf said: “On behalf of the board, I want to thank Luc for his tenure with JDE Peet’s, from lead independent director at the time of our listing to chairman and interim CEO. Although he can no longer dedicate the time necessary for an executive role at JDE Peet’s, we are pleased that Luc will advise JAB on its FMCG investments with the time he does have available."

"JAB has strong conviction in the long-term growth prospects of JDE Peet’s, and we are fully committed to our investment in the world’s leading pure-play coffee and tea company.”

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