Humble Group has announced that CEO Simon Petrén will depart from the Swedish FMCG business, shortly after revealing plans for possible asset disposals.
Details surrounding Petrén’s exit were not provided in yesterday’s statement (2 October). Board chairman Dajana Mirborn noted that it was determined “new leadership is in the best interests of the company.”
Effective immediately, Noel Abdayem, the founder of Humble, has been appointed as the acting CEO while the board seeks a permanent successor. The company anticipates that this leadership change will align with its initiatives focusing on efficiency, a crucial aspect as the food and beverage industry navigates current consumer trends.
Petrén, who has driven an active acquisition strategy at Humble, will remain with the company in an advisory capacity for a transitional period. Mirborn emphasized, “Under Simon Petrén’s leadership, the group has established a solid foundation for continued growth through strong organic expansion and strategic acquisitions.”
Additionally, Mirborn reiterated Petrén’s previous remarks regarding Humble entering “a new phase with a focus on efficiency and profitability.” This departure follows a September announcement indicating the company’s intention to streamline its workforce and explore asset disposals as part of an efficiency program, a move reflective of the broader food and drink business landscape.
Petrén stated, “Humble Group and several of our companies’ increased levels of stability and maturity enable us to evaluate structural alternatives for these group companies.” This transition will allow Humble to concentrate operations on areas with the greatest strategic importance and profitability potential.
Mirborn conveyed high expectations for the initiatives currently underway. Abdayem expressed, “With many years of experience in Humble Group, I understand the potential that exists. I look forward to collaborating with our talented entrepreneurs and colleagues to advance Humble to the next level.”
In a notable move, last month, Humble revealed plans to further invest in its confectionery division, driven by a reported uptick in demand. This aligns with ongoing food and drink consumer trends that favor innovation and growth.
Reflecting on his time as CEO, Petrén remarked, “As group CEO, I have had the privilege of growing Humble to become a global player, and I believe the initiatives we have invested in will position the business for continued success in the coming years.”
In financial terms, Humble reported a 6% rise in net sales, reaching SKr3.88bn ($413.6m) in the first half of 2025. However, EBIT saw a decline of 19.8% to SKr141m, and profit after tax fell by 69% to SKr17m.
In 2024, the company achieved a 9% increase in net sales, totaling SKr7.7bn. EBIT for the year was SKr376m, reflecting an 18.2% rise. Moreover, profit after tax turned positive at SKr124m, bouncing back from a prior loss of SKr106m.
