Keurig Dr Pepper Appoints Third CEO of Coffee Division Ahead of Corporate Split – CoffeeTalk

Keurig Dr Pepper has appointed Russ Torres, a former executive at Kimberly-Clark, as the CEO of its coffee division in anticipation of the company’s planned separation of its beverage and coffee units into distinct entities. Torres is set to commence his role on November 3, overseeing the integration of Keurig Dr Pepper’s operations with those of JDE Peet’s. He will report to Tim Cofer, the CEO responsible for the beverage side post-split. This marks the third appointment for this position since the corporate split announcement last year, with previous selections including CFO Sudhanshu Priyadarshi and JDE Peet’s CEO Rafael Oliveira, who departed for a role at Heineken.

Keurig Dr Pepper’s acquisition of JDE Peet’s for $18 billion has initiated plans to establish the coffee business as a standalone operation, with projected annual revenues of $16 billion from notable brands like Keurig, Peet’s, and Green Mountain Coffee Roasters. Torres is praised for his extensive leadership experience, previously serving as president and chief operating officer at Kimberly-Clark and holding top positions at companies such as Newell Brands, Bain & Company, and Mondelēz International. Keurig Dr Pepper’s chair, Pamela Patsley, emphasized Torres’s capability in building consumer brands and steering organizations through complex transformations, citing these qualities as essential for the new Global Coffee Co.

In its latest quarterly report, Keurig Dr Pepper reported a significant $7.31 billion in net sales, up 75.6% year-over-year, largely boosted by the Peet’s acquisition; sales excluding this acquisition still reflected a healthy growth of 7.3%.

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