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Green Mountain Coffee Roasters Names Brian Kelley CEO - Update

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Green Mountain Coffee Roasters, Inc., (GMCR: Quote) Tuesday said Brian Kelley would become President and Chief Executive Officer and a member of the Board of Directors effective December 3.

Kelley is a proven consumer products executive. According to the company, the appointment signals GMCR's intention to build upon its expertise in single-serve beverages and to leverage its leading consumer brands, Keurig and Green Mountain Coffee.

Kelley was named President of Coca-Cola Refreshments in September, to be effective January 1, 2013. He has been Chief Product Supply Officer, Coca Cola Refreshments since October 2010.

In his prior role as President of North America Business Integration, he led the integration of the acquisition of the North American assets of Coca-Cola Enterprises. He combined Coca-Cola North America and Coca-Cola Enterprises' North American operations into the new company, Coca-Cola Refreshments.

Michael Mardy, Interim Chairman of the Board of Directors, said, ''With leading consumer brands, compelling distribution and relationships, and an ongoing commitment to funding innovation to leverage its single-serve expertise, we knew that GMCR's next leader had to possess a strong combination of operational expertise, consumer product and brand experience and strategic insight."

Kelley will succeed GMCR's current President and CEO, Lawrence Blanford. Blanford has been working with the company's Board of Directors to identify a successor, after announcing his retirement plan in February.

Blanford has been President and CEO of GMCR, since assuming the role from the company's founder, Bob Stiller, in 2007.

GMCR, which closed at $27.33 on Monday, is adding 3 percent in pre-market activity.

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by RTT Staff Writer

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