Pret A Manger announces board changes as it ramps up international growth
Pret A Manger has made a series of board changes as it looks ahead to its next phase of international growth.
These have included one of its founders returning to the business and the appointment of a new chairman.
Having served as chairman since Pret’s acquisition by JAB in 2018, Olivier Goudet will be succeeded in the role by his colleague and JAB partner, Konrad Meyer.
After leading the acquisition, Meyer became a board member in 2018 and also served as interim chief financial officer at the height of the Covid-19 pandemic in 2020.
Meanwhile, Pret co-founder Sinclair Beecham and former chairman and board member Larry Billet are both returning to the business after being significant supportive investors in Pret since JAB’s acquisition. While Beecham will not formally rejoin the board, Billet is coming back as a non-executive director and chair of the audit committee.
Meyer said: “As a final step in leaving the pandemic behind, we are implementing plans to reduce debt. I would like to thank Olivier for his strategic vision and leadership throughout the turbulent pandemic, and for tripling the number of Pret’s international markets. Olivier is handing over Pret as it returns to its pre-pandemic strength, now with much enhanced international and digital footprints.
“I am also delighted to be welcoming Sinclair and Larry back to the business. With Larry’s return to the board, and Sinclair’s continued support, we are bringing together the brilliance of Pret’s past with the promise of Pret’s future, as we support Pano Christou and the Pret management team in delivering its winning recipe of delicious, freshly made food and organic coffee with fast, friendly service.”
In further changes, Patrice de Talhouët and Nathalie Roos will step down as non-executive directors.
Pret now has a presence in 18 markets, including the UK, US, Canada, France, Belgium, Luxembourg, Spain, Italy, Switzerland, Germany, Hong Kong, Singapore, India and the Middle East. This compares to four in 2018.
Pret said the board changes will support the business as it enters into further development partnerships with local franchise partners in a growing group of countries.
