Dutch coffee and tea producer JDE Peet’s has announced that its CFO Scott Gray has stepped down to reunite with his family in the US.

After evaluating both internal and external candidates, the company has appointed a new external CFO, who will join in Q2 2025. The incoming CFO's details will be disclosed on 26 February, 2025, alongside JDE Peet’s FY 2024 results.

According to a statement, Gray will work closely with the company's CEO, Rafael Oliveira, and the new CFO to ensure a smooth transition.

During his tenure, Gray played a significant role in JDE Peet’s transition from a private to a public company in 2020. He led critical initiatives in risk management, financial reporting and capital structure optimisation. Additionally, he guided the company through periods of coffee inflation and navigating macroeconomic and geopolitical challenges.

Beyond his role in finance, Gray served as interim CEO prior to Oliveira’s appointment in November 2024.

Oliveira said: “On behalf of the board and the executive committee, I thank Scott for his leadership and commitment to JDE Peet’s. His focus on excellence has shaped a lasting legacy, leaving behind a company with a robust financial foundation, strong performance and a talented team. As interim CEO, Scott provided critical leadership continuity. We are grateful for his leadership, partnership and collaboration and his commitment to a solid handover.”

Gray added: “Resigning was a very difficult decision for me. I am deeply committed to JDE Peet’s and have truly enjoyed leading such a talented team. My wife and I have decided to relocate to the US where our children will soon be starting their higher education. JDE Peet’s is a unique company operating with fantastic people in a great sector. The company is set up for future success and I thank my team and colleagues for the unforgettable journey."

JDE Peet’s also announced the appointment of Ricard Barri Valentines as chief marketing officer and member of the executive committee, reporting to the CEO. Valentines, currently global category director for instant and liquid coffee at JDE Peet's, has succeeds Fiona Hughes, who has taken on the role of general manager for Australia.

Oliveira stated: “I welcome Ricard to the executive committee and thank Fiona for her outstanding leadership in introducing a marketing philosophy to the company and bringing life to our portfolio of brands.”