Morten Schott Knudsen has been appointed as Caffe Nero’s new chief finance officer, having joined the group in January 2026 as part of the main board.
Knudsen steps into the position as Ben Price, former group CFO, transitions to the role of chief operating officer.
Knudsen joins the business from Pilgrim’s Europe, where he was chief financial officer for six years – a role which Edwuardo Santos Silva took over in 2025.
Prior to this, Knudsen held numerous CFO roles as well as other senior finance positions across the food and retailing sectors, including Danone and Walmart.
As group CFO for Caffe Nero, he will help steer the global business and the brands in the wider group as the company eyes further growth and expansion.
The group’s latest results revealed record performance in the first eight months of FY25, with like-for-like sales up 7.4%.
Overall sales shot up by 13%, reaching $680 million for the financial year ending 31st May 2024.
The Group also restarted its openings programme during that period, adding 61 new stores across the world, including 29 in the UK.
The Caffè Nero UK business saw sales rise by 10%, reaching £333 million, with UK EBITDA at £38.5 million - an increase of 17%.
During the same financial year (FY24), the delivery business in the UK experienced strong growth of 17.5% year on year, and the Coffee at Home business (packaged coffee) had sales of £4.8 million (+65% growth) including in-store sales of its coffee at home products of £2.4 million.
“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,” Knudsen wrote on Linked In on his new appointment.
The Nero Group has 1,200 coffee houses across 11 countries with over 11,000 employees.
