Carlsberg appoints Jacob Aarup-Andersen to replace retiring CEO Cees ’t Hart
DENMARK – Danish multinational brewer, Carlsberg, has appointed the CEO of ISS A/S, Jacob Aarup-Andersen, as its new Chief Executive Officer, replacing Cees ‘t Hart, who will retire by the end of Q3 2023 at the latest, after eight successful years at the helm.
ISS is a Copenhagen-based facility management services company with operations in 60 countries globally, employing 360,000.
Chair of Carlsberg’s Supervisory Board Henrik Poulsen says: “As part of our ongoing succession planning, the Board has been through a comprehensive assessment of CEO candidates from around the world, with Jacob Aarup-Andersen emerging as the best candidate. Jacob is an outstanding CEO with a strong track record in delivering shareholder value and organic and inorganic growth, in addition to driving the ESG and digitization agendas.”
“Jacob brings a unique blend of excellent strategic skills, financial acumen and discipline, global operational experience, and an engaging and purpose-led leadership style. We’re pleased that he’ll be leading the next stage of Carlsberg’s value-creating growth journey, and we’re looking forward to welcoming him at Carlsberg.”
At ISS A/S, Carlsberg said Jacob was instrumental in leading the team to a financial turnaround and the development of a strategy with a core focus on technology and digitization, sustainability and diversity, equity, and inclusion.
During his tenure at the facility management services company, the company regained its growth momentum, with 2022 results above expectations.
Before his appointment to ISS, Jacob had senior leadership roles at Danske Bank and Danica Pension. He was also an investment professional in firms, such as Danske Capital, TPX-Axon Capital, Montrica Investment Management, and Goldman Sachs.
Jacob Aarup-Andersen commented: “I’ve always admired the unique heritage and strong values of Carlsberg and look forward to building further on that great foundation. The Group’s strong international presence as well as its brand portfolio and ambitious ESG agenda, combined with the long-term mindset and the values of giving back to society through the Carlsberg Foundation, are truly inspiring.”
Chairman Henrik Poulsen told journalists on a conference call that Jakob was very clearly the Board’s preferred candidate.
While Aarup-Andersen does not have a background in the beer or food industry, his appointment could bring some sought-after “innovation or agility” to Carlsberg, Nordnet analyst Per Hansen told Reuters.
“Carlsberg has probably said: We are forced to compromise with industry knowledge. In return we get someone very strong in the financial disciplines,” Hansen said.
After the announcement, shares in Carlsberg extended gains on the news, closing 4.3% higher, while ISS’ shares fell 7%.
For all the latest food industry news from Africa and the World, subscribe to our NEWSLETTER, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube channel.
