Keurig Green Mountain Inc (NASDAQ:GMCR), a leader in specialty coffee, coffee makers, teas and other beverages with its innovative brewing technology, announced today that Peter G. Leemputte will join the company in June 2015 and will assume the role of Chief Financial Officer and Treasurer effective August 17, 2015. He will succeed current Chief Financial Officer and Treasurer, Fran Rathke, who will continue to serve in the role until that date. As previously disclosed, to ensure a smooth transition, Ms. Rathke will then become Senior Advisor to the Chief Executive Officer and will remain with the Company throughSeptember 2015.
Mr. Leemputte brings over 30 years of experience in corporate finance leadership positions. Most recently he served as Chief Financial Officer of Mead Johnson Nutrition Company from 2008 to March 2015 overseeing a number of functions, including accounting and reporting, financial planning, audit, tax, treasury, investor relations and information technology. Prior to that, he was Chief Financial Officer of Brunswick Corporation from 2003 through 2008. Mr. Leemputte has also held numerous leadership roles, including positions at Chicago Title & Trust, Armco, FMC Corporation and Amoco.
“Pete’s thirty-plus years of financial experience, including more than a dozen years as a public company CFO, will contribute immediately to our efforts,” said President and CEO Brian Kelley. “Pete brings significant skills to numerous corporate and leadership initiatives and I am confident that Keurig will benefit from his knowledge and perspective as we continue to grow our hot beverage platforms and move toward the launch of our innovative Keurig KOLD beverage system this fall.”
“Keurig is a unique and innovative company and I am very excited to become part of the company’s exciting future,” said Leemputte. “I look forward to helping the company capitalize on the many opportunities that lie ahead in collaboration with my new colleagues.”
Kelley continued, “The Board of Directors and I would like to thank Fran Rathke for her 12 years of service to Keurigand her dedication to a smooth transition. I have been fortunate to work closely with her for several years, and have seen her tireless commitment, passion and integrity in action across our business.” (Original Source)
Shares of Green Mountain Coffee Roasters closed today at $107.46, down $2.54 or 2.31%. GMCR has a 1-year high of $158.87 and a 1-year low of $90.35. The stock’s 50-day moving average is $115.99 and its 200-day moving average is $129.59.
On the ratings front, Green Mountain has been the subject of a number of recent research reports. In a report issued on April 16, UBS analyst Stephen Powers maintained a Buy rating on GMCR, with a price target of $160, which represents a potential upside of 44.3% from where the stock is currently trading. Separately, on March 9, KeyBanc’s Akshay Jagdale reiterated a Buy rating on the stock and has a price target of $175.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Stephen Powers and Akshay Jagdale have a total average return of 5.4% and 15.0% respectively. Powers has a success rate of 68.8% and is ranked #1587 out of 3590 analysts, while Jagdale has a success rate of 62.3% and is ranked #378.
Keurig Green Mountain Inc is engaged in the coffee and coffeemaker businesses in the United States and Canada. It sells Keurig Single Cup brewers and roast high-quality Arabica bean coffees.