By
Debbie Cai
November
12, 2012
Peet's Coffee & Tea Inc.
named Weight Watchers
International Inc. executive David Burwick as its new
chief executive and president, just weeks after the struggling coffee seller
was taken private.
Mr. Burwick will succeed Patrick
O'Dea, who is stepping down after more than a decade as Peet's president and
CEO. Mr. O'Dea will continue as a member of the board.
Mr. Burwick, who most recently
served as president of North America for Weight Watchers, has more and two
decades of experience in beverage and retail operations. Before Weight
Watchers, he served in senior roles at PepsiCo Inc. Mr. Burwick's
appointment is effective Dec. 31.
Peet's was taken private two
weeks ago by German investment group Joh. A. Benckiser for about $1 billion.
The company, which is focused on the bagged-coffee segment, has struggled with
higher coffee-bean costs in recent months. Peet's has also been hindered by not
participating in the fast-growing single-serve market, which is grabbing market
share.
Separately, Weight Watchers said
its CEO David Kirchhoff will handle its North American operations—including the
products, publishing and licensing businesses—in the interim until a
replacement for Mr. Burwick is appointed.
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Peet’s
Coffee & Tea, Inc. Appoints Dave Burwick to President and CEO
Patrick O’Dea to Serve on Board of
Directors
November
12, 2012
EMERYVILLE, CALIF. —
Peet’s Coffee & Tea, Inc. today announced that Dave Burwick will be
appointed president and chief executive officer, effective December 31, 2012.
Burwick will succeed Patrick O’Dea, who after more than ten years as president
and chief executive officer, will step down. O’Dea will continue to serve the
company as a member of the board of directors.
“Peet’s
is extremely fortunate to have been led by Pat these last ten years,” said
Olivier Goudet, chairman of Peet’s board of directors. “The company is very
well positioned for the future, and we look forward to Pat’s continued
contribution as a member of the board.”
In
reflecting on his tenure at Peet’s, O’Dea said, “I’m very gratified knowing that
we built Peet’s over the last decade with a commitment to core values and
beliefs that is truly unusual. In doing so, we had a profound and enduring
impact on people’s lives in our own company, in the communities surrounding our
stores, and in the countries around the globe where we buy our coffee. Dave is
an accomplished leader who shares Peet’s values. I’m excited that he will be
leading the company and I look forward to supporting him as a board member.”
Burwick
brings to the position more than 20 years of extensive beverage and retail
experience. He joins Peet’s after serving as President of North America for
Weight Watchers International, which saw a pronounced growth during his tenure.
Prior to Weight Watchers, Burwick served for more than 20 years at PepsiCo in
senior executive roles, including senior vice president and chief marketing
officer of PepsiCo North America Beverages and president of
Pepsi-Quaker-Tropicana-Gatorade Canada, a $1.3Billion business unit of PepsiCo.
Burwick
said, “I love Peet’s coffee; there’s nothing like it. I am honored to be part
of a company with such a strong heritage, passion for crafting high-quality
coffee and tea, and commitment to the local and global communities it serves.
I’m excited about the opportunity to continue the Peet’s tradition, share it
with more customers, and grow the company for many years to come.”
Goudet
added, “We are very excited to have Dave join Peet’s. He brings significant
experience in both consumer goods and retail, and, most importantly, shares
Peet’s core values. He will be a terrific leader for the company.”
Peet's
Coffee & Tea, Inc. is the premier specialty coffee and tea company in the
United States. The company was founded in 1966 in Berkeley, Calif. by Alfred
Peet. Peet was an early tea authority who later became widely recognized as the
grandfather of specialty coffee in the U.S. Today, Peet's Coffee & Tea
offers superior quality coffees and teas in multiple forms, by sourcing the
best quality coffee beans and tea leaves in the world, adhering to strict high
quality and taste standards, and controlling product quality through its unique
direct store delivery selling and merchandising system. Peet's is committed to
strategically growing its business through many channels while maintaining the
extraordinary quality of its coffees and teas. For more information about
Peet's Coffee & Tea, Inc., visit www.peets.com.