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Wet wipe turnaround: Jacob Heen

Albaad CEO and President Jacob Heen has led a remarkable financial turnaround of the wet wipes multinational, embracing rapid process improvements and fostering strong relationships with employees.

Leading a US$500 million multinational company from loss back to post-pandemic profitability is no easy task. For Jacob Heen, CEO and President of Albaad, a two-pronged approach was necessary to achieve it – rapid process improvement through innovation and engendering trust between leadership and employees at every level.

Albaad is one of the world’s largest manufacturers of wet wipes and tampons, expanding its production facilities and clientele from Israel to Europe and the United States. However, after 14 years as a CFO at other large businesses, Heen took on the leadership at Albaad at a turbulent time.

In November 2022, the company was still reeling from the impact of the COVID-19 pandemic. Growth was sluggish, the company was sustaining losses and confidence in its long-term future was waning.

After just two years at the helm, Heen has pulled off a complete turnaround; Albaad is profitable once again, having achieved 18 percent year-on-year growth compared to 2022. This also led to a 160 percent rise in the company’s share price for the years 2023–2024.

“Now our managers are more business-oriented, cashflow-oriented and ultimately, customer-oriented.”

Never shrinking from a challenge, the current CEO and President views this outcome as a vindication of his philosophy that with the right vision, even truly difficult circumstances can lead an organization down a better path.

“Capabilities are important for any CEO, but it’s the ‘fit’ that matters most,” Heen tells The CEO Magazine. “Does the person fit the position at the time it is offered? Does their vision, their strategy, align well with the company’s current needs?

“Even though 2022 involved tough times for the company, the fit felt good. It was time for me to lead.”

Innovation, front and back

Changes needed to be made quickly, so Heen brought his nuanced experience to bear from both the financial side of Albaad and his previous roles in textile manufacturing. Quickly implementing several innovations within the manufacturing process and office support functions, it was time to embrace a more responsive style of operations and business.

“I strongly believe in the rolling forecast approach. Every month, every business unit provides their current analysis but also their forecast for the coming month,” he reveals.

“This includes scenario planning, targeted actions and steps to long-term outcomes, along with a realistic range of expectations to help define what success will look like.

“Now our managers are more business-oriented, cashflow-oriented and ultimately, customer-oriented.”

“Capabilities are important for any CEO, but it’s the ‘fit’ that matters most.”

In terms of concrete innovations, Albaad is leveraging its return to profitability by investing heavily in more sustainable products and manufacturing processes. Its brand-new US$55 million production line, due for completion in mid-2025, will create entirely plastic-free wipes, an essential development for a world moving away from single-use plastics.

Fully recyclable packaging, paperless offices and clean energy usage are also vital pathways toward the company’s broader target of reducing its total carbon footprint by 30 percent before 2030.

Along with mitigation and other sustainability measures, Heen has avidly sought to improve Albaad’s ability to more accurately measure its environmental impact.

“I come from a finance and business intelligence background, so measuring things accurately is second nature to me,” he says. “Measurement is essential for any sustainability effort; if you don’t know the full extent of the issue, how can you possibly gauge any improvements you try to make?”

Faith in people

While emerging technologies are delivering new opportunities and efficiencies to manufacturers like Albaad, Heen advises any CEO not to overlook the expertise that already exists within the company.

“Your board and your managers deserve your respect and attention,” he insists.


“We’ve work with Albaad for decades. This has been testament to a trusted, long-term partnership focused on sustainable wipes and innovative products. Together we prioritize environmental responsibility while delivering high-quality solutions. Our commitment to ‘growth that matters’ ensures a shared vision for success, fostering meaningful innovation and collaboration that positively impacts both the industry and the planet.” – Tobias Schäfer, Vice President Forming & Finishing, ANDRITZ Nonwoven and Textile

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“While it’s tempting to look for outside consultants when the company is in trouble, you should be listening to your own people. They know exactly what’s happening and if you listen to their recommendations, they’re more engaged and more likely to take ownership of what comes next.”

Heen applies this approach to every part of the company. Revitalizing Albaad began with the premise that tapping into the knowledge of the existing workforce and motivating them to pivot toward new operational methods would be more effective than imposing a mass layoff and starting again.

“A lot of new leaders coming into struggling companies start by reducing headcount. We didn’t want to do that and we didn’t have to,” he says.

“We put our faith in our people and focused on improving processes instead. That bought us trust as well as greater efficiency.”

“We put our faith in our people and focused on improving processes instead. That bought us trust as well as greater efficiency.”

Looking ahead, Heen is eager to keep implementing technologically driven improvements into key areas of the company, from the factory floor to its head office.

Greater automation, AI-driven office functions and greener materials – Albaad is ready for even bigger changes ahead.

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