Sweden-based confectionery company Cloetta has announced the appointment of new CEO and president Katarina Tell.
Tell will take up those roles "no later than" 1 September ahead of the resignation of current CEO Henri de Sauvage-Nolting, according to a statement from Cloetta. He has headed up the business since February 2017.
The owner of the Sportlife and Candyking brands announced in January the departure of de Sauvage-Nolting. He will remain CEO until Tell takes up her roles on 1 September.
Tell joined the locally-listed company in 2018 as president of Cloetta's local business in Sweden. She previously worked for Kraft Heinz for more than nine years, serving as a managing director from 2015 to 2017.
Tell said: “Our customer focus, supported by our portfolio of strong brands, will enable us to grow and to continue to bring joy to memorable occasions.
“Cloetta is a leading FMCG company in Northern Europe with strong local brands and fast-growing international sales and operations. I look forward to stepping into my new role in 2024 and continuing to develop the company and our people."
Mikael Norman, chairman of the Cloetta board, added: “Katarina has built a strong performance track record ever since she joined the company and in addition also has extensive expertise across our key markets and customers.
“We are confident that she will be an excellent president and CEO, with the capacity to further develop Cloetta.”
One day after de Sauvage-Nolting announced his departure in January, the company reported that it would raise prices in 2024 as it continues to face higher costs from sugar and cocoa.
The outgoing CEO also said the business was facing cost pressures from the strength in the euro against the Swedish and Norwegian currencies.
“I expect to continue to see pricing-driven growth in 2024,” de Sauvage-Nolting said as he presented last year’s results.
“We have taken extra pricing already in Q1, in most countries as of 1 February, and all the deals are done. So that as we did in ‘22 and ’23, we get the absolute coverage for any adverse effects in raw materials or for currency.”
De Sauvage-Nolting said that despite the price increases initiated in 2023, volumes were “relatively stable”.
Cloetta, founded in 1862, is headquartered in Sundyberg, Sweden.
Its products are sold in more than 50 countries worldwide. Sweden, Finland, Denmark, Norway, the Netherlands, Germany and the UK are Cloetta's main markets.
