Australia’s Costa Group Holdings has appointed Marc Werner as its deputy chief executive as part of a takeover offer by a private-equity firm in the food and beverage industry. Last week, Paine Schwartz Partners expressed interest in purchasing Costa’s shares, prompting the current interim CEO, Harry Debney, to focus on the potential acquisition process.
Werner, who previously served as the company’s chief operations officer, will assume the role of deputy CEO. Meanwhile, Debney’s term as interim CEO has been extended until the end of the year. Paine Schwartz Partners already owns 13.8% of Costa Group Holdings.
This leadership change has resulted in the suspension of the CEO recruitment process, which will be revisited once the offer from Paine Schwartz Partners has greater certainty. Costa chairman Neil Chatfield expressed appreciation for Debney’s efforts and confirmed that Werner’s appointment will enhance operational performance and allow Debney to focus on the company’s strategic direction.
Werner brings valuable experience to Costa, having spent 22 years at BMW and serving as an executive director for Deloitte before joining the company as COO in September 2022. During his tenure, Werner successfully improved Costa’s 2PH citrus performance and gained comprehensive knowledge of its domestic business.
Under his new role, Werner will be responsible for overseeing all business units, including the international business, as general managers will report directly to him.