Godiva appoints new ceo

Mohamed Elsarky to head the luxury chocolate company

June 25, 2014
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Godiva president Mohamed Elsarky
Mohamed Elsarkey, Godiva's new ceo. Photo provided. 

Godiva has promoted from within and officially named Mohamed Elsarky as it’s next ceo. He is taking over for Jim Goldman, who left the role in January 2014.

Elsarky most recently was in charge of strategic and operational functions of Godiva's all markets except in the US and Canada. In addition to his new duties as ceo, Elsarky will also continue to serve as the company’s international president.

“I am immensely honored to be appointed as the ceo of Godiva,” Elsarky says. “We have a wonderful and special brand as well as a passionately working team for this brand across the globe. I am confident of Godiva's continuing great achievements in the years ahead with the strength of Y?ld?z Holding.”

Elsarky has worked at Kellogg Co., and started at Godiva in 2010 after working for Lion Capital.

“Elsarky possesses significant experience in diverse cultures and locations,” Godiva says. “Elsarky has been in charge of all of the marketing, finance, human resources, supply chain, legal and information technologies processes in the company’s operations except in the US and Canada since 2010.”

He played a major part in the company's growth, especially outside the US and Canada, taking on critical tasks in Godiva's expansion into diverse regions such as South Korea, Australia, Indonesia and Saudi Arabia. Elsarky also lead the creation and development of strategies for China, pioneering the launch of 50 stores in 14 states as well as expanding e-trade to 300 cities in China.

Elsarky also has made a considerable contribution in the UK market.. While expanding the company's UK operations he organized the launch of Godiva Chocolate Cafes at important locations such as Harrods.  

Godiva International Operations Team helped the company's revenues in all markets to swell by 15 percent in the past four years and doubled international business under Elsarky's management. Nearly $50 million-worth of contributions were made to the revenues each year as the company's profits flourished in kind as well.

The International Duty Free sales’ revenues also doubled in the past two years under Elsarky's management.

“Elsarky has been one of the crucial members of the executive team in increasing Godiva’s international presence and achieving profitable growth in the past four years,” says Murat Ülker, chairman of the board at Y?ld?z Holding. “I believe wholeheartedly that he will display successful leadership in advancing Godiva even further in the future.

Godiva currently is a member of Y?ld?z Holding, which it joined in December 2007. Ülker Bisküvi played an active role in this process by acquiring 25.23 percent shares of Godiva.

Godiva, established in Brussels in 1926 by Joseph Draps, takes its name from the legendary story and personality of Lady Godiva, and has been producing premium chocolate products for 80 years.

The Godiva brand serves its customers through 450 stand alone boutiques and 9,300 sales points worldwide with more than 60 products ranging from premium chocolates to biscuits, from coffee to cocoa, chocolate drinks, cakes and chocolate bars.

Having opened its first boutique in the United States on New York’s Fifth Avenue in 1972, Godiva offers its products throughout four geographic regions, including North America, Japan, the Pacific region and Europe.

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