Humble Group has revealed CEO Simon Petrén will be leaving the Swedish FMCG business just weeks after announcing potential asset disposals.
Reasons for Petrén’s departure were not disclosed in a statement yesterday (2 October) other than board chairman Dajana Mirborn saying it had been “concluded that new leadership is in the best interests of the company”.
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With immediate effect, Humble’s founder Noel Abdayem has been appointed as acting CEO while the board of directors pursues a search for a successor.
Petrén, who has led an active acquisition agenda at Humble, will remain at the company in an advisory role for “a period of time”.
Chairman Mirborn said: “Under Simon Petrén’s leadership, the group has built up a solid foundation for continued development through strong organic growth and acquisitions.”
Mirborn reiterated comments previously made by Petrén that Humble has entered “a new phase with a focus on efficiency and profitability”.
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By GlobalDataPetrén’s departures follows an announcement in September that the company was planning to reduce its workforce and explore possible asset disposals as part of a new “efficiency programme”.
The departing CEO said at the time: “Humble Group and several of our companies’ increased levels of stability and maturity enable us to evaluate structural alternatives for these group companies.
“At the same time, this allows us to concentrate operations on areas of greatest strategic importance and profitability potential, while optimising the group’s capital allocation into a more favourable structure for future value growth.”
Mirborn said in yesterday’s statement that the business has “high expectations for the initiatives that are now being implemented”.
Abdayem added: “With many years of experience in Humble Group, I know the potential that exists in the group. I look forward to working together with all the entrepreneurs and colleagues in the group to take Humble to the next level.”
Last month, Humble revealed it was investing further in confectionery, with the Swedish business pointing to “strong growth in demand”.
Commenting on his exit, Petrén said: “As group CEO, I have had the privilege of growing Humble to become a global player and it is my belief that the initiatives we have invested in will provide the business with good conditions for successful development in the coming years.”
Humble reported a 6% rise in net sales to SKr3.88bn ($413.6m) in the first half of 2025.
However, EBIT decreased 19.8% to SKr141m and profit after tax fell by 69% to SKr17m.
In 2024, the company achieved net sales of SKr7.7bn, a 9% increase from the previous year.
EBIT for the year was SKr376m, up by 18.2%.
Profit after tax turned positive, reaching SKr124m, a recovery from a loss of SKr106m the previous year.
