Ole and Steen appoints new CEO

Ole and Steen – known as Lagkagehuset in Denmark – has announced the appointment of Joachim Knudsen as its new CEO, effective from 1 January 2024. 

Knudsen, who succeeds Jason Cotta, joins the bakery chain from a previous role as managing director of McDonald’s Sweden and Denmark.  

Over the past five years, Ole and Steen has gone through a period of intense growth, doubling in size and expanding to London and New York. 

As of this year, Ole and Steen employs more than 3,500 people and has 140 bakery shops in three countries, 31 of which are outside Denmark. 

According to the group, its strategic focus going forward will be to further improve operational performance and profitability to continue building a “leading and premium” bakery-led chain in Denmark, London and New York. 

David Campbell, chairman of the Ole and Steen board, said: “We are delighted to welcome Joachim Knudsen as our new CEO. He brings more than 25 years of industry experience and has delivered impressive results at McDonald’s. 

“Lagkagehuset has a strong position in Denmark and has established itself in London and New York, and we are now entering a new phase where we need to continue driving strong organic growth and focus on improved profitability through general optimisation of the company.” 

Knudsen added: “I am excited to join Lagkagehuset on the next step of its journey. It is a fantastic brand with great locations in Denmark, London, and New York. It has a strong culture, great products, a lot of talented employees, supportive stakeholders, and loyal customers. 

“Lagkagehuset has managed to navigate through a challenging market environment with the pandemic and the macroeconomic headwinds in recent years. I am convinced that the company is well-positioned for its next phase of operational excellence. I look forward to developing the company further in cooperation with the entire team.”