JAB Group Announces Peter Harf’s Retirement
JAB Holding Company has announced the retirement of Peter Harf, a key figure in the company’s transformation and growth. At the age of 78, Harf steps down after a remarkable 40-year career, during which he played a pivotal role in building JAB into one of the world’s most successful investment firms. While he will no longer hold an executive role, Harf will remain deeply involved with the firm, continuing his commitment as a fully invested partner. Additionally, he will maintain his position as Chairman of the Board and Managing Director of the Alfred Landecker Foundation, a non-profit organization founded by the Reimann family, the major stakeholders of JAB.
“Peter is the visionary founder of JAB. He transformed Benckiser, a medium-sized chemical and industrial manufacturing company in Germany, into a global investment powerhouse with more than $40 billion in managed capital and an impressive portfolio of top-tier consumer brands,” said a spokesperson for the Reimann family. “On behalf of the family, we express our deep gratitude to Peter for his decades of friendship, exceptional leadership, and remarkable contributions to value creation.”
Harf’s journey with JAB began in 1981 when he joined Benckiser, a company that would later evolve into Reckitt Benckiser, one of the world’s largest consumer goods companies. Under his leadership, the company transitioned from being a regional player to becoming a globally recognized brand with a vast array of household products. Harf’s forward-thinking approach and keen business acumen led to significant innovations, and his leadership skills were instrumental in the creation of a dynamic global entity.
In 2012, Harf introduced a new strategic vision that would reshape the family’s business. This vision led to the formation of JAB Holding Company, a partner-led investment firm, with a focus on consolidating the family’s diverse business interests under one unified umbrella. Over the next decade, JAB made significant strides in various industries, particularly in consumer sectors such as coffee, beverages, fast casual restaurants, indulgence foods, pet care, and pet insurance. The company’s ability to diversify its portfolio while maintaining leadership in these sectors became a hallmark of its success.
Reflecting on his retirement, Harf expressed deep gratitude for the trust and support he received from the Reimann family over the years. “I would like to thank the Reimann family, who entrusted me with this incredible opportunity more than 40 years ago. It has truly been the journey of a lifetime, but now it is time for me to pass the baton to a new generation of leaders,” said Harf. He also extended his thanks to his partners, the entire JAB team, and the associates who have contributed to the success of the company. “It has been an immense privilege to lead this remarkable organization, and I am confident that JAB has a bright future ahead.”
The leadership of JAB will now transition to Managing Partners Joachim Creus and Frank Engelen, who will assume the roles of Co-CEOs. Creus will also take on the role of Chairman, while Engelen will serve as Vice Chairman. Both have been with JAB for many years and are well-positioned to continue driving the company’s growth and expansion. Under their leadership, JAB will continue to diversify its portfolio, with a particular focus on building a global life insurance platform to complement its long-standing commitment to consumer goods and services.
“Joachim and Frank have presented a compelling strategic vision for JAB’s future, one that ensures the company’s sustainable long-term growth,” said the Reimann family spokesperson. “In the past year alone, they have introduced a new life insurance segment, reorganized the team, brought in world-class talent such as Anant Bhalla as Senior Partner and Chief Investment Officer, and completed the acquisition of Prosperity Life Group.”
Creus, who has worked closely with Harf for 15 years, spoke highly of his former colleague. “Peter will leave a profound and lasting legacy at JAB. Throughout our time working together, Peter was an inspiring leader and mentor. I sincerely thank him for his unwavering dedication and vision, and I look forward to celebrating his many achievements,” Creus said.
Engelen also took the opportunity to acknowledge Harf’s immense contributions. “Peter built JAB into what it is today, taking it to exceptional heights with a team and portfolio of consumer assets that are unparalleled. I want to thank him for his leadership and commend him for his success. It is a true honor for me to work alongside Joachim as we move forward and write the next chapter of JAB’s story,” Engelen remarked.
Harf’s retirement marks the end of an era for JAB, but it also signals the beginning of a new phase in the company’s development. Under the leadership of Creus and Engelen, JAB is poised to continue its growth, expanding into new sectors while strengthening its position in the consumer goods market. The company’s strategy of diversification, combined with its robust portfolio, ensures that JAB will remain a formidable player in the global investment landscape for years to come.
Peter Harf’s career is a testament to the power of visionary leadership and strategic foresight. His legacy will undoubtedly influence JAB for many years, as the company continues to build on the foundations he laid. With the next generation of leadership now in place, JAB is well-positioned to face the challenges of an ever-changing global market, while maintaining its commitment to delivering value to its partners, consumers, and stakeholders.
