Lipton Teas & Infusions has hired former Mars CEO Grant Reid to be its new chair, effective immediately.
Having served as CEO of Mars for nine years, Reid bought “extensive global leadership experience” to Lipton, the world’s largest tea manufacturer said in a statement.
During his tenure at Mars he had “led an ambitious growth strategy that increased sales by more than 50%” whilst also growing Mars’ petcare business, Lipton said.
In his new role, he would work with Lipton CEO Marc Busain to “press ahead with… growth plans for the business”, it added.
“Lipton is a business with wonderful brands, real heritage, and a place in people’s everyday lives all over the world,” Reid said. “Businesses like this succeed through creating value for consumers, partners and, communities – with purpose and performance going hand in hand.
“I look forward to working with Marc, the board and the leadership team as Lipton builds its next chapter.”
Busain added: “I am thrilled that someone with the stature and experience of Grant has agreed to become our new chair, and I am confident he will be an invaluable support and source of wisdom and challenge for all of us.”
The private equity-owned Lipton Teas & Infusions is battling to turn around its fortunes amid long-term decline in tea consumption, particularly in the UK.
Since CVC Capital Partners acquired the business from Unilever in 2022, annual revenues have fallen from €2bn to €1.57bn in 2024, after a slew of underperforming product lines were culled by former CEO Nathalie Roos.
In the first half of 2025, the last publicly available set of accounts for the business, revenues fell by 13% to just shy of €700m.
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