Merckens will not be nominated for a second term as CEO

Merckens will not be nominated for a second term as CEO

Piet Hein Merckens, the CEO of Wessanen, the Dutch food group behind brands including Kallø rice cakes and Whole Earth peanut butter, is to step down from his role.

In a statement today (5 November), the company said Merckens will not be nominated for a second term as CEO and member of the executive board.

"In light of the pending reappointment in April 2014 of Mr Merckens, the supervisory board has concluded that a change in leadership would be appropriate and therefore has decided not to nominate Mr Merckens for a second term," the company said.

He will remain acting CEO until a successor has been appointed. The search for a successor has begun today, Wessanen said.

Merckens has been CEO and member of the executive board since June 2010. The company, however, has booked two consecutive quarters of declining profit. Last month, the firm reported a fall in third-quarter profits amid losses from US drinks arm ABC.