JAB today announced that Peter Harf, 78, will retire after a distinguished career, including more than 40 years at JAB. He will remain fully invested in JAB. Harf will also continue to serve as chairman and managing director of Alfred Landecker Foundation, a non-profit organization founded by the Reimann family.

“Peter is the visionary founder of JAB. He transformed Benckiser, a medium-sized chemical and industrial manufacturing company based in Germany, into a leading global investment firm with more than $40 billion in managed capital and a sprawling portfolio of world-class consumer brands,” said a spokesperson for the Reimann family. “On behalf of the family, I would like to thank Peter for his decades of friendship, remarkable leadership and value creation.”

Created Reckitt Benckiser

Harf joined Benckiser in 1981 and created the consumer goods powerhouse Reckitt Benckiser. In 2012, Harf introduced a strategy to consolidate the family’s business assets, leading to the formation of JAB Holding Company as a partner-led investment firm. Over the next decade, JAB established leadership across its five consumer investment platforms: coffee & beverages, fast casual restaurants, indulgence, petcare, and pet insurance.

“I would like to express my gratitude to the Reimann family who, more than 40 years ago, entrusted me to embark on the journey of a lifetime. It’s now time to pass the baton to a new generation of leadership,” said Harf. “I would also like to thank my partners, the entire JAB team, and the amazing associates behind our iconic brands. It has been a distinct privilege to build and lead this incredible organization, and I am confident that JAB has a bright future.”

Creus and Engelen Continue to Lead JAB

Managing Partners Joachim Creus and Frank Engelen will continue to lead JAB as co-CEOs, with Creus assuming the role of chairman and Engelen assuming the role of vice chairman. Under their leadership, JAB will continue to diversify its portfolio, including building a global life insurance platform to complement consumer goods and services.

“Joachim and Frank set forth a compelling strategic vision to prepare JAB for the next generation of sustainable long-term growth,” added a spokesperson for the Reimann family. “Over the past year, they have introduced a new life insurance segment, reorganized the team, onboarded world-class talent including Anant Bhalla as senior partner and chief investment officer, and announced the acquisition of Prosperity Life Group.”

“Peter will leave a deep and lasting legacy at JAB,” added Creus. “We worked side-by-side for 15 years, during which time Peter was an inspiring leader and mentor. I sincerely thank Peter for his dedication and look forward to celebrating his many achievements.”

Engelen added: “Peter built JAB to unbelievable heights, resulting in an exceptional team and portfolio of consumer assets. I’d like to thank Peter for his leadership and commend his success. As we look ahead, it’s my honor to work alongside Joachim to write the next chapter in JAB’s story.”

About JAB

JAB is an investment holding company that invests  insurance and consumer-focused industries with attractive long-term dynamics, including strong growth prospects, attractive margin and cash flow characteristics, and proven resiliency. JAB is the controlling shareholder of Coty Inc., a global leader in beauty, and JDE Peet’s, the world’s leading pure-play coffee and tea company. It is the anchor shareholder of Krispy Kreme, Inc., a global leader in freshly delivered doughnuts, and a significant shareholder of Keurig Dr Pepper Inc., a leader in the North American beverage industry.

Together with JAB Consumer Partners, JAB is the controlling shareholder of National Veterinary Associates, one of the world’s largest animal care services platforms; Independence Pet Holdings, a leading provider of pet insurance in North America; Pinnacle Pet Group, a leading provider of pet insurance in Europe; Panera Brands Inc., one of the largest fast casual restaurant companies in the US, which includes Panera Bread, Caribou Coffee and Einstein Bros. Bagels; Pret A Manger, a global leader in the ready-to-eat fresh food market; and Espresso House, the largest branded coffee shop chain in Scandinavia.