Oatly ready for next phase of growth as it appoints new CFO

Oatly has appointed Marie-Jose David as chief financial officer, marking a complete change in the leadership team of the plant-based group.

It follows Jean-Christophe Flatin taking over from long-serving boss Toni Petersson as CEO on 1 June.

Flatin said the company was entering its “next phase of growth” following the appointment of David as CFO.

David will succeed Christian Hanke, who has served as CFO since 2020, and start in the role on 1 October.

“I am delighted to welcome Marie-Jose to lead our global financial team as we enter our next phase of growth,” Flatin said.

“We believe her impressive global and operational experience in scaling world-class and high-growth consumer brands will help Oatly as we expand into new markets, pursue profitable growth and help convert more people to plant-based consumption.”

David brings more than two decades of global finance and leadership experience to Oatly, including “significant” operational experience with consumer brands.

She most recently served as CFO at Mars Veterinary Health International, a division of Mars Petcare. Prior to Mars she was CFO Americas for jewelry brand Pandora and vice president of finance for a professional product division unit at L’Oréal USA.

“I am excited to join the impressive, mission-led team at Oatly,” David said. “Oatly is a values-driven, iconic brand redefining the global food system for the sake of our planet.

“I look forward to working with Jean-Christophe and the entire team to leverage Oatly’s innovative and great-tasting plant-based product portfolio to drive long-term growth and shareholder value.”

Flatin added: “I would like to thank Christian for his service to Oatly, including his leadership and contributions on public company readiness, our IPO process and most recent fundraising effort.

“His commitment and financial stewardship have been instrumental to the growth and global expansion we’ve achieved over the last several years, and he leaves the company in a position to continue its mission to convert more consumers to plant-based.

“We look forward to continuing to work with Christian through the transition process.”

In May, Oatly reported improved profitability following a “solid start” to the financial year, with net losses of $75.6m in the first quarter, an improvement on the $87.5m loss a year earlier.