Core Insights - JDE Peet's provided an interim update on its business and financial performance for the year-to-date and proposed the appointment of Mr. Rob de Groot as a non-executive member of the Board of Directors [1][5]. Business Performance Update - The company divested its tea business in Turkey, which generated approximately EUR 60 million in annual sales but had a negative contribution to adjusted EBIT, to Efor Holding [7]. - The rollout of L'OR Barista machines in the U.S. has been discontinued, and management of the L'OR capsules business in the U.S. will be transferred to Peet's to better capture the potential of the U.S. coffee market [7]. - A strong volume rebound in Europe was observed since March, following a material impact in January and February [7]. Financial Performance Update - Overall financial performance in Q1 2025 was in line with company expectations, supported by disciplined pricing and cost control [7]. - Green coffee prices were, on average, 28% higher in the first four months of 2025 compared to the second half of 2024, prompting the company to consider additional measures, including price increases [7]. - As of May 2, 2025, 28% of the EUR 250 million share buyback program had been completed [7]. Strategic Initiatives - The company is progressing with various strategic initiatives aimed at driving growth, operational simplification, and efficiency gains [7]. - More details regarding the company's strategy and transformation initiatives will be shared at the Capital Markets Day scheduled for July 1, 2025 [7]. Leadership Update - Mr. Rob de Groot's appointment as a non-executive member of the Board is subject to approval at the 2025 Annual General Meeting of Shareholders on June 19, 2025 [9]. - The new CFO, Yang Xu, will start on May 19, 2025 [7].