Oatly Group AB (Nasdaq: OTLY)(“Oatly” or the “Company”), the
world’s original and largest oat drink company, today announced
Global President Jean-Christophe Flatin will become the company’s
next Chief Executive Officer (CEO) effective June 1, 2023. Toni
Petersson, who has served as CEO since 2012, will then transition
to the role of Co-Chairman of the Board of Directors.
Since joining Oatly a year ago, Mr. Flatin has led several
initiatives with Chief Operating Officer Daniel Ordoñez that have
resulted in immediate, positive impacts for the Company. This
includes simplifying the Company’s organizational structure,
driving cost and resource efficiencies across all regions, and
instituting a new operating model that sets the stage for future
profitable growth.
“I am humbled and honored by the opportunity to lead this great
organization. Oatly is a once-in-a-generation company with the
teams, purpose, and products that are second to none. We have all
the elements in place to strengthen our leadership position in
multiple markets and fuel the societal shift to a more sustainable
plant-based food system,” commented Flatin. “I would like to thank
Toni and the Board of Directors for their confidence and trust, and
our employees for welcoming me so warmly. I’m excited to continue
to partner with our entire leadership team to unlock Oatly’s full
potential and drive long-term shareholder value.”
“Jean-Christophe is a proven leader and the ideal person to help
usher Oatly in our next phase. He has already strengthened our
Company for the better by putting our supply chain back on firmer
footing, renewing our focus on innovation, and enabling our
organization to go on offense to drive profitable growth,” remarked
Petersson. “I’m incredibly proud of what Oatly has accomplished as
a Company over the last decade –– building an entirely new
category, growing our portfolio of innovative products, and
establishing a global brand with a singularly unique identity and
voice. I look forward to continuing to work with Jean-Christophe,
the Board, and the entire Oatly team to realize our long-term
mission to make it easier for people to live healthier lives
without recklessly taxing the planet’s resources.”
In his new role as Co-Chairman of the Board, Mr. Petersson will
provide support to Mr. Flatin during the transition period and
focus on strategic initiatives, including advising on Oatly’s China
business and championing Oatly’s unique company culture and vision.
Eric Melloul will continue as Co-Chairman of the Board of Oatly,
and will execute the duties and responsibilities of chairman under
applicable law.
“Both Toni and the Board conducted a thorough succession
planning process when bringing Jean-Christophe into the Oatly
family last year, and we are delighted
to appoint him as the next CEO of Oatly. He shares
the same values Toni has instilled in the company and brings deep
industry experience, a passion for scaling businesses, and
nurturing collaborative work environments. These attributes,
combined with his positive impact as Global President, make him the
right successor to lead Oatly into an exciting future,” added
Melloul. “For over a decade, Toni has led Oatly with tremendous
vision, leadership, and commitment, all of which propelled Oatly
from a niche local brand to a global force leading the plant-based
movement. I am thrilled to partner with him as Co-Chairman.”
Oatly has experienced significant growth in recent years – more
than tripling in revenue since 2019. The company continues to see
strong demand for its products worldwide, with Oatly ranking as the
top Oatmilk brand with the highest velocity of all non-dairy
alternatives and a leading sales driver in both the oat and
non-dairy milk categories in multiple countries. The Company
continues to expand its presence in foodservice and retail,
including the recent announcement of major partnerships with
McDonald’s Austria, Swiss Air and leading Nordics and Baltics real
estate developer, Reitan.
About Jean-Christophe FlatinMr. Flatin joined
Oatly with over 30 years of experience at Mars, which included
managing high-growth brands and leading global organizations. At
Mars, Mr. Flatin led the multi-billion dollar growth of the Royal
Canin cat and dog food business as Global CEO and President, and
managed multiple global brands as President of the Global Chocolate
division. Most recently, he served as President of Innovation,
Science, Technology, and Mars Edge, a new entrepreneurial segment
of Mars.
About OatlyWe are the world’s original and
largest oat drink company. For over 25 years, we have exclusively
focused on developing expertise around oats: a global power crop
with inherent properties suited for sustainability and human
health. Our commitment to oats has resulted in core technical
advancements that enabled us to unlock the breadth of the dairy
portfolio, including alternatives to milks, ice cream, yogurt,
cooking creams, spreads and on-the-go drinks. Headquartered in
Malmö, Sweden, the Oatly brand is available in more than 20
countries globally.
Forward looking statements This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Any express or
implied statements contained in this press release that are not
statements of historical fact may be deemed to be forward-looking
statements, including, without limitation, the changes to executive
management and the board, as well as statements that include the
words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,”
“estimate,” “may,” “should,” “anticipate,” “will,” “aim,”
“potential,” “continue,” “is/are likely to” and similar statements
of a future or forward-looking nature. Forward-looking statements
are neither promises nor guarantees, but involve known and unknown
risks and uncertainties that could cause actual results to differ
materially from those projected, including, without limitation:
general economic conditions including high inflationary cost
pressures; our history of losses and inability to achieve or
sustain profitability; the impact of the COVID-19 pandemic,
including the spread of variants of the virus, on our business and
the international economy; any failure to obtain necessary capital
when needed on acceptable terms; a cybersecurity incident or other
technology disruptions; changing consumer preferences and our
ability to adapt to new or changing preferences; and the other
important factors discussed under the caption “Risk Factors” in
Oatly’s Annual Report on Form 20-F for the year ended December 31,
2022 filed with the SEC on April 19, 2023 and other filings with
the SEC as such factors may be updated from time to time. Any
forward-looking statements contained in this press release speak
only as of the date hereof and accordingly undue reliance should
not be placed on such statements. Oatly disclaims any obligation or
undertaking to update or revise any forward-looking statements
contained in this press release, whether as a result of new
information, future events or otherwise, other than to the extent
required by applicable law.
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Contacts
Oatly Group AB
+1 866-704-0391
investors@oatly.com
press.us@oatly.com
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