Green Mountain elects former Fortune Brands CEO Wesley as chairman
(Reuters) - Green Mountain Coffee Roasters Inc (GMCR.O) elected former Fortune Brands Inc Chief Executive Norman Wesley as chairman of its board and David Mackay as an independent director, expanding its board to 10 members.
Wesley had been serving as an independent director on the Green Mountain board since August.
Green Mountain named a former Coca-Cola Co (KO.N) executive Brian Kelley as chief executive last month, betting on a product specialist to see it through intensifying competition that has eroded its share of the single-cup coffee market.
Michael Mardy, who served as interim chairman since May, after the company's founder Robert Stiller was stripped of his chairmanship over ill-timed stock sales, will continue in his role as head of the audit committee.
Shares of the company were up 3.5 percent at $40.30 in early trade on the Nasdaq.
(Reporting by Aditi Shrivastava in Bangalore; Editing by Sriraj Kalluvila)
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- Scots spurn independence in historic vote, devolution battle begins |
- Alibaba surges 38 percent on massive demand in market debut |
- Eight bodies found after attack on Guinea Ebola education team
- French jets strike in Iraq, expanding U.S.-led campaign against Islamic State |