Morten Schott Knudsen has been named the new chief financial officer of Caffe Nero, joining the organization in January 2026 as a member of the main board.
He takes over the CFO role from Ben Price, who has shifted to the position of chief operating officer.
Prior to his new role, Knudsen served as the chief financial officer of Pilgrim’s Europe for six years, a position that Edwuardo Santos Silva assumed in 2025.
Before that, he accumulated extensive experience in various CFO and senior finance roles within the food and retail industries, with notable positions at Danone and Walmart.
In his capacity as group CFO at Caffe Nero, Knudsen is expected to guide the global business and its brands as the company seeks further expansion and growth opportunities.
Recent results indicate that the group achieved a historic performance in the first eight months of FY25, with like-for-like sales increasing by 7.4%.
Total sales surged by 13%, reaching $680 million for the financial year ending May 31, 2024.
During this time, the group also resumed its store opening initiative, launching 61 new locations worldwide, including 29 in the UK.
In the UK, Caffe Nero experienced a 10% increase in sales, totaling £333 million, while UK EBITDA rose to £38.5 million, reflecting a 17% growth.
Additionally, within the same financial period (FY24), the UK delivery segment saw impressive growth of 17.5% year-on-year, while its Coffee at Home line (packaged coffee) achieved sales of £4.8 million, marking a 65% increase, which includes £2.4 million from in-store sales of its home coffee products.
“I’m delighted to be at Caffè Nero, we have huge potential and growth in front of us. I’m already enjoying working with the board and the team, and I’m excited for what’s ahead,” Knudsen shared on LinkedIn regarding his recent appointment.
The Nero Group operates 1,200 coffee houses across 11 countries and employs more than 11,000 people.