Barry Callebaut c.e.o. plans to step down

by Jeff Gelski
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ZURICH, SWITZERLAND — Juergen Steinemann will step down as chief executive officer of Barry Callebaut AG by the end of the 2014-15 fiscal year, the Zurich-based company announced Nov. 6, the same day it reported results for the 2013-14 fiscal year ended Aug. 31.

The board of directors has proposed to elect Mr. Steinemann as a new board member and vice-chairman. The company is initiating a search for a successor as c.e.o.

“After an intense period as c.e.o. of Barry Callebaut, I would like to step down from my function at the end of the current fiscal year,” Mr. Steinemann said. “Until then, I will continue to devote all my energy to Barry Callebaut and to ensure the current fiscal year is once again a successful one. I feel honored that the board is proposing me as a new board member and vice-chairman, as this will allow me to continue to support the further growth of our great company, building on the entrepreneurial spirit, the passion and unique expertise of all my colleagues.”

Barry Callebaut in the fiscal year ended Aug. 31, 2014, had sales volume of 1,716,766 tonnes, which was up 12% from 1,535,662 tonnes in the previous fiscal year; sales revenue of 5,865.9 million Swiss francs ($6,054.1 million), which was up 20% from 4,884.1 million Swiss francs; and net profit of 255 million Swiss francs ($263.2 million), which was up from 222.8 million Swiss francs.

Mr. Steinemann has served as Barry Callebaut’s c.e.o. since August 2009. Under Mr. Steinemann’s leadership, Barry Callebaut has improved from 2008-09 fiscal year numbers of sales volume of 1,213,610 tonnes and sales revenue of 4,880.2 million Swiss francs.

Mr. Steinemann previously worked for the former Eridania Béghin-Say Group. Before coming to Barry Callebaut, he was c.e.o. at Unilever’s former subsidiary Loders Croklaan and was chief operating officer at the global animal nutrition and aquaculture company Nutreco. Mr. Steinemann graduated from economics/business studies at the European Business School in Wiesbaden, Germany; London and Paris in 1985.

In one other personnel move, Barry Callebaut’s board has proposed to elect Wai Ling “Winnie” Liu to the board. Ms. Liu is c.e.o. of Enzo Jewelry, a jewelry retail brand founded in Hong Kong that now has 230 retail outlets in China.
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