Fazer CEO Karsten Slotte plans to leave the Finnish company, while former Hershey executive Andrew Jacobs joins premium confectioner Wolfgang Candy.
Fazer seeks new leader
Slotte, who turns 60 this year, has served as Fazer CEO and president since November 2007 and has been at the company since 1997.
“Our growth has been profitable and we have conquered new markets. The company is in very good shape and now is the right time to hand the leadership over,” he said.
“During the years to come, I want to spend more time with my family and, at the same time, I will stay active in the business world through my work in different Boards of Directors’, he added.
The Fazer board is currently recruiting for a new CEO. Slotte will remain in his role until a replacement is found.
During his five-year tenure, Fazer’s sales have risen around 30% from €1.2bn ($1.6bn) in 2007 to €1.6bn ($2.1bn) in 2011.
The company has also expanded its reach to Asia through a recent licensing deal for Angry Birds confectionery.
Fazer is the market leading confectioner in Finland and has one of the top fresh bread businesses in Russia.
Wolfgang eyes mainstream retail with Jacobs
Over in the US, former Hershey executive Andrew Jacobs has been appointed president of Wolfgang Candy.
Jacobs spent 10 years at Hershey in various positions such as vice president and general manager of US customers. He also spent time at Brach’s Confections and Nabisco prior to Hershey.
“The Wolfgang Company is a turn-around story. The brand is strong, the company’s manufacturing capabilities are broad, and the new ownership group, including Ben and Brad McGlaughlin and the Stillman family, are committed to accelerating the growth of the company” said Jacobs.
“I am excited to be joining the team at a time when we are introducing a line of new all natural chocolate products and have a clear vision for the brand and the organization, “he continued.
Benjamin A. McGlaughlin, continues his role as Wolfgang CEO.
He said that Jacobs would help move Wolgang’s premium brands into mainstream retail.
”The addition of Andy rounds out our leadership team; Wolfgang is now poised to enter new markets and introduce our premium chocolate line to more audiences across the country,” he said.
Wolfgang produces its own brand and performs contracting manufacturing for private label customers.