Orkla’s recently-appointed CEO, Jaan Ivar Semlitsch, has created a new, senior, strategy role at the Nordic consumer-goods group.
Former DuPont executive Sverre Prytz has been hired to fill the position of executive vice president for M&A and strategy. He will take the job on 1 December. Semlitsch will lead Orkla’s M&A and strategy function until then.
Go deeper with GlobalData
For the last three years, Prytz, 50, has worked at Singapore-based consultants Helix Advisors. In his four years at DuPont, one of Prytz’s roles was as strategy and M&A director for the company’s Asia Pacific business.
Asked what parts of the food industry Prytz will study to look for targets, Orkla told just-food: “M&A is an important part of Orkla’s value creation model, and we will continue allocating capital for strategically important acquisitions in new growth areas. That means new investments related to consumer trends in areas such as sustainability, health/well-being and plant-based products.”
The company added: “We will continue to strengthen our presence in new channels and in geographies with higher growth than the grocery sector in the Nordic region. We will also allocate additional resources and capital to more forceful innovations and developments, not least within digital solutions and tools to meet the consumer in new arenas. We will be present where consumers expect to find our products and services.”
In 2019, Orkla’s acquisitions have included the purchases of ingredients firms Vamo, Confection by Design and Zeelandia Sweden.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe company has also bought cereal brand Pama, schnitzel-to-veggie food firm Lecora and Asian-foods distributor Bo Risberg this year.
Semlitsch joined Orkla from Dixons Carphone, where he has been CEO of its Elkjop Nordic division for more than six years and has also been in charge of Dixons’ international operations. Previously he served at Rema Industrier, Plantasjen, Statoil Retail Europe and McKinsey & Company.
just-food analysis from June: Will Orkla investors get what they want from incoming CEO?
