News

Keurig Green Mountain CEO to step aside after Kold woes

Most popular

Hard seltzers pave the way for 'soft seltzer'?

What will Coca-Cola Co's priorities be? - analysis

The rise of adaptogens in soft drinks

The Coca-Cola Co Performance Trends 2016-20 - data

Constellation Brands in fiscal-2021 - preview

MORE

Keurig Green Mountain CEO Brian Kelley is to step down, less than a month after his company's sale to new owners.

The Keurig Kold faced a difficult launch in September

The Keurig Kold faced a difficult launch in September

Kelley, a former executive for The Coca-Cola Co who led Keurig for four years, will remain with the company as vice chairman, Keurig said today. Pinnacle Foods CEO Bob Gamgort replaces Kelley on 2 May.

Earlier this month, JAB Holding Co paid US$13.9bn for a 78% stake in KGM, and took the company private. The private-equity firm announced the takeover in December after a difficult launch of the Keurig Kold, a home carbonation system that was officially unveiled in September. 

The machine saw Coca-Cola buy into Keurig in 2014 as the two companies announced a partnership over the Kold. 

However, before and after its launch analysts and consumers questioned the high price of the machine, which makes single-serve CSDs including Coca-Cola and Dr Pepper Snapple Group-branded products.

Between August last year and JAB's takeover announcement, Keurig shares lost one-third of their value.

Bart Becht, chairman at both JAB and Keurig, said: "Bob is one of the most talented and respected executives in the FMCG industry, and his focus on growth and long-term value creation makes him an ideal partner for JAB, as well as its co-investors."

Gamgort has served as chief executive at Pinnacle Foods, which owns the Birds Eye frozen food brand, since 2009.


Related Content

Dr Pepper Snapple Group poised to merge with Keurig Green Mountain

Dr Pepper Snapple Group poised to merge with Keurig Green Mountain...

How did Keurig Dr Pepper perform in Q3 2019? - results

How did Keurig Dr Pepper perform in Q3 2019? - results...

Keurig Green Mountain pulls Keurig Kold

Keurig Green Mountain pulls Keurig Kold...

Will Keurig Green Mountain, Dr Pepper Snapple Group merger spark M&A boom? - Analysis

Will Keurig Green Mountain, Dr Pepper Snapple Group merger spark M&A boom? - Analysis...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?