Pret co-founder returns amid board shakeup

Pret a Manger has announced that its co-founder Sinclair Beecham will return to the company in an advisory role as it reshuffles the makeup of its board.

Olivier Goudet, who has been chairman since JAB’s acquisition in 2018, will step down and be replaced by his colleague Konrad Meyer.

Meyer led the acquisition of Pret by JAB in 2018 and has been a Pret Board member since then.

Furthermore, Larry Billett, Pret’s chairman from 2003 through 2011 and a board member until 2018, will return as a non-executive director and chair of the audit committee.

Meyer said: “We are very proud of the transformation of Pret over the past few years, and we remain focused on the essence of Pret: happy teams and happy customers, and serving people with the Joy of Pret. 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.”

Pano Christou, chief executive, added: “Olivier has been a great champion of Pret and on behalf of all of us in the business I want to thank him for his support and leadership. We are delighted that Konrad will be succeeding Olivier as Chairman and I have thoroughly enjoyed working closely with him over the past six years.

“Together, we have transformed Pret since I became CEO and built it into an emerging global business today. We have done this not just through innovation and by developing a new growth model, but also by doing things the right way, without using a CVA or otherwise short-changing our partners. Our priority now is to build on the foundations that are in place for substantial further growth around the world.”