Breville Group Ltd. has announced that Jack Lord has stepped down from his role as CEO. Mervyn Cohen, Breville’s CFO, will serve as Interim CEO as he continues to fulfill his finance department responsibilities.
Breville chairman Steven Fisher said, in announcing Lord’s departure, that the company’s business is becoming increasingly global and that the board is determined to have the leadership in place to best deliver its worldwide growth strategy.
“Breville has grown strongly over recent years and is in good shape. We are fully committed to our Food Thinking strategy, which will continue to drive product innovation and market diversification. Everyone at Breville wishes Jack well in his future endeavors. We will commence a global search for a new CEO immediately,” Fisher stated.
Breville also noted that the board is focused on further leveraging Breville’s infrastructure and knowledge across regions to maximize revenues and build efficiencies in markets Breville chooses to enter.