Pret A Manger has made a series of board changes, including bringing back its co-founder as the sandwhich chain ramps up its next phase of international growth.
Former chief executive of Pret owner JAB Holdings Olivier Goudet is stepping down as chairman and will be succeeded by his colleague and JAB partner, Konrad Meyer.
After spearheading the acquisition, Meyer became a board member in 2018 and also served as interim chief financial officer at the height of Covid-19 back in 2020.
Meanwhile, Pret A Manger co-founder Sinclair Beecham and former chairman and board member Larry Billet are both returning to the chain after being significant supportive investors in Pret since JAB’s acquisition in 2018.
Beecham will not formally rejoin the board, while Billet will return as a non-executive director and chair of the audit committee.
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The sandwich chain said the board changes will support the business as it enters into further development partnerships with local franchise partners in a growing number of countries.
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.”
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