Coca-Cola board names new officers
ATLANTA The board of directors of soft drink giant Coca-Cola named two new officers Friday.
Ceree Eberly will be SVP and chief people officer, and Chris Nolan was appointed the roles of VP and treasurer.
Eberly, a 19-year veteran of the company, was recently promoted to chief people officer, with responsibility for leading the company’s global People Function (formerly Human Resources). She succeeds Cynthia McCague, who is retiring from the company after 28 years of service with Coca-Cola.
Prior to assuming the role of chief people officer, Eberly served as group human resources director for Europe. She joined the Company in 1990, serving in staffing, compensation and other important roles, supporting business units around the world.
Meanwhile, Nolan was elected as VP and to the position of treasurer, succeeding David Taggart, who stepped down from the role due to health reasons.
Nolan joined the company in 1992, and served in various roles in corporate auditing and corporate treasury, including his last position as manager, financial risk management & corporate finance.
Eberly’s election is effective April 1, 2010, as she transitions back to the United States, while Nolan’s election is effective immediately.
Just Born opens first retail store
NATIONAL HARBOR, Md. Just Born Inc., maker of such candies as Peeps and Mike and Ike, celebrated the opening of its first retail store, Peeps & Company.
In a joint statement, David Shaffer and Ross Born, co-CEOs of Just Born, said, “This is a momentous occasion for Just Born, our family of associates, and fans of our candy. For years, we have seen tremendous growth and excitement for our brands, and received many requests for a store in just the right location. PEEPS & COMPANY™ is proud to join the community near our nation’s capital.”
Dr Pepper Snapple Group agrees to license certain brands to PepsiCo following acquisition of its largest bottlers
PLANO, Texas A beverage maker has agreed to license certain brands to one of the largest food and beverage companies.
The Dr Pepper Snapple Group said it will allow PepsiCo to distribute Dr Pepper, Crush and Schweppes in the United States; Dr Pepper, Crush, Schweppes, Vernors and Sussex in Canada; and Squirt and Canada Dry in Mexico, on completion of PepsiCo’s proposed acquisitions of The Pepsi Bottling Group and PepsiAmericas. The new agreement will have an initial term of 20 years, with 20-year renewal periods, and will require PepsiCo to meet certain performance conditions. As part of the transaction, DPS will receive a one-time upfront payment of $900 million, before taxes and other related fees and expenses.
Additionally, in U.S. territories where it has a distribution footprint, DPS will begin selling certain owned and licensed brands, including Sunkist soda, Squirt, Vernors and Hawaiian Punch, that were previously sold by PBG and PAS.
“We’re confident that this new arrangement, which maintains our balanced and flexible routes to market, is in the best interests of our brands and our shareholders,” said Larry Young, president and CEO of DPS. “It demonstrates the value and growth potential of these great brands and strengthens our third-party route to market while benefiting our own Packaged Beverages business. We’re excited to be working with PepsiCo and are confident in the continued long-term growth of our business.”