Keurig Dr Pepper (KDP) has picked Kimberly-Clark executive Russ Torres to lead its future global coffee business.
Last year, KDP struck a deal to acquire Dutch coffee major JDE Peet’s, and split the combined business into two publicly traded groups, nominally called Beverage Co. and Global Coffee Co.
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Torres joins KDP from household and personal care business Kimberly-Clark, where he is president and COO.
He will take on the role of CEO of Keurig’s Coffee Operating Unit from 3 November, until the separation is completed, a statement from the group said today (1 October).
During that period, “he will lead the integration of KDP’s and JDE Peet’s coffee operations”, the company said.
KDP is aiming to split the business into the Beverage Co. and Global Coffee Co. entities by early next year.
Torres will then become chief executive of the new Global Coffee Co. entity.
“Russ is a proven leader with extensive experience building consumer brands, guiding global organisations through complex change, and delivering consistent results with high performing teams. That is precisely what Global Coffee Co. requires,” KDP chair Pamela Patsley said. Patsley will later become board chair of Global Coffee Co.
“Our base business is healthy, integration and deleveraging work is on plan, and Russ joins with meaningful runway to engage our teams, drive synergy realisation, and shape strategy well ahead of separation. He has spent his career accelerating growth across major global portfolios while executing large-scale transformations, and I am thrilled to welcome him to the organisation.”
The Dr Pepper brand owner had previously picked former JDE Peet’s CEO Rafael Oliveira to head up the new coffee business in April.
Two months on, however, he was poached by fellow Dutch company Heineken to be its new CEO from October.
KDP CEO Tim Cofer, the future head of Beverage Co., said: “Russ brings the right combination of commercial drive, brand-building pedigree, and operational discipline needed to stand up Global Coffee Co. for long-term growth.
Torres added: “This is an extraordinary opportunity to build the company that will shape the future of coffee.”
Prior to being COO at Kimberly-Clark, Torres was also group president of the company’s North American business. His earlier experience also includes senior executive roles at snacks giant Mondelēz International and management consultancy firm Bain & Company.
Once the business has separated, KDP said Global Coffee Co. is expected to bring around $16bn in annual revenue, and employ more than 25,000 people worldwide.
