Caffè Nero UK has appointed Morten Schott Knudsen as its new group chief financial officer.
Knudsen joins the coffee giant from UK and European food company Pilgrim’s Europe, where he held the role of CFO from 2019 to 2025.
He previously held several other senior financial roles at companies including Walmart and Danone.
Speaking of his appointment on LinkedIn, Knudsen said: “I’m delighted to be at Caffè Nero, we have huge potential and growth in front of us. I’m already enjoying working with the board and the team, and I’m excited for what’s ahead.”
He will succeed Ben Price, who has transitioned to the role of chief operating officer at the café chain.
It’s not the first leadership shake-up at Caffè Nero this year, after former Hotel Chocolat boss Lysa Hardy was appointed as UK CEO in January.
The changes also come after Caffè Nero delivered a jump in sales and profits in 2025, driven by store openings, menu innovation and strengthened partnerships with retailers.
For the financial year ending 31 May 2025, the UK business increased sales by 10% to £366m in 2025, while UK EBITDA rose by 17% to £45.2m.
The Nero Group, which operates 1,154 stores across 11 countries, saw overall sales rise 13% to £585.2m, while EBITDA increased by 20% to £58.5m.
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