Dec. 18 (Bloomberg) -- Green Mountain Coffee Roasters Inc., the maker of Keurig single-cup pods and brewers, named former Fortune Brands Inc. Chief Executive Officer Norman Wesley chairman and added A.D. Mackay as a company director.
Mackay, 57, became a director on Dec. 12 and is the former chief executive officer of Kellogg Co., Waterbury, Vermont-based Green Mountain said today in a statement. Wesley had been a Green Mountain director and also served as Fortune Brands’ chairman.
In November, the coffee company named Brian Kelley as CEO to succeed Lawrence J. Blanford, who retired. Green Mountain has been facing increasing competition from private-label capsules made by Kroger Co. and Safeway Inc. that fit into Keurig brewers.
The shares gained 5.3 percent to $40.99 at the close in New York. Green Mountain has lost 8.6 percent this year.
Michael Mardy, who had served as interim chairman for Green Mountain after founder Robert Stiller was removed earlier this year, will continue as a director. Howard Malovany, Green Mountain’s chief legal officer and general counsel, will step down in March, the company said in a filing today.
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