Barry Callebaut, the Swiss chocolate company, recently announced the appointment of Peter Vanneste as its new Chief Financial Officer. Additionally, the company revealed plans to invest a substantial $562.1 million in core customer areas over the next two years.
One of the primary goals behind these investments is to achieve an estimated annual savings of around CHF250 million. This strategic move is expected to positively impact both margins and cash flow, as stated by the company on Wednesday.
Peter Vanneste, currently serving as the CFO of Belgian personal-hygiene company Ontex Group, will officially take over the role of CFO from Ben De Schryver on November 1. De Schryver will transition into a commercial role and assume responsibility for the North America regional division as the regional president.
In addition to leadership changes, Barry Callebaut plans to establish a new customer supply and development organization. This move will result in an expansion of the company's presence to five regions from the current three. Each region will consist of five to six country clusters, enhancing its operational efficiency and reach.
To support the implementation of this new organization, the executive committee will undergo a restructure. The committee will be reduced from nine members to six, as three individuals will step down from their positions to pursue other opportunities. Joining the executive committee in early October are Jutta Suchanek as the Head of People and Diversity and Clemens Woehrle as the Head of Customer Supply and Development.
With this recent announcement, Barry Callebaut demonstrates its commitment to driving growth, operational excellence, and customer satisfaction.
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