Green Mountain Coffee Roasters, Inc. Announces New Executive Appointments
Michael Jacobs named Chief Logistics Officer and Executive Officer; Michael Cunningham joins as Chief Information Officer
WATERBURY, Vt.--(BUSINESS WIRE)-- Green Mountain Coffee Roasters, Inc., (GMCR) (NAS: GMCR) , a leader in specialty coffee and coffee makers, today announced that Michael Jacobs has been named Chief Logistics Officer and an Executive Officer of GMCR and that Michael Cunningham has joined the Company as its Chief Information Officer. Both report directly to President and CEO, Larry Blanford.
Mr. Jacobs joined GMCR in April 2012. In his prior role as Vice President, Enterprise Logistics and Distribution he has been focused on providing both strategic and tactical leadership to the Company's outbound logistics and distributions function, related processes and technology, and customer relations. Mr. Jacobs was named an Executive Officer of the Company as of Friday, September 14, 2012. He joined GMCR from Toys"R"Us, Inc. where he held progressively responsible positions in transportation, distribution and logistics on a global basis.
"We are very pleased to have Michael on our executive management team," said Blanford. "His industry experience and business acumen have already proved valuable to the organization, and his new appointment will allow him to better directly set the strategy to optimize our customer relations and operational effectiveness across an increasingly complex, multi-channel business."
Mr. Cunningham is responsible for the strategic and operational leadership of GMCR's Enterprise Information Systems & Technology function. He joined the Company in July 2012 from Kraft Foods where he served as Chief Technology Officer and Vice President, Global Information Services. He has extensive experience in the consumer packaged goods industry where he has successfully led the creation and delivery of global IT strategies as well as initiatives in business process development, reengineering and large scale ERP implementations.
"As our Company grows our organization is increasingly reliant on the technical capabilities and efficiencies of our information systems and infrastructure," said Blanford. "Mike's extensive expertise and leadership will be an integral asset to GMCR as we look to continuously improve our business and technology systems to allow us to meet future business goals."
Mr. Jacobs spent more than 14 years at Toys"R"Us, Inc., ending his tenure at the company as Senior Vice President, Logistics. Prior to joining Toys"R"Us, Mr. Jacobs held positions in finance and supply chain management at KB Toys, Melville Corporation and PepsiCo. He holds a B.S. in Finance and an M.B.A. in Accounting from Manhattan College, as well as a Masters in Supply Chain Management from Penn State University.
In his more than 20 years in consumer product and beverage industries, Mr. Cunningham's responsibilities for global IT services included application delivery, infrastructure, enterprise architecture, security & compliance, innovation development as well as overall regional information systems leadership in Europe, the Middle East, Africa and the Americas. Mr. Cunningham also previously held senior IT positions with Kraft Foods following its acquisition of Cadbury Ltd. and Dr Pepper/Seven Up. He holds a B.S. in Electrical Engineering Technology from Texas A&M University.
About Green Mountain Coffee Roasters, Inc.
As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (GMCR) (NAS: GMCR) , is recognized for its award-winning coffees, innovative Keurig® Single Cup brewing technology, and socially responsible business practices. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in sustainably-grown coffee, and donating a portion of its pre-tax profits to social and environmental projects.
GMCR routinely posts information that may be of importance to investors in the Investor Relations section of its website, including news releases and its complete financial statements, as filed with the SEC. The Company encourages investors to consult this section of its website regularly for important information and news. Additionally, by subscribing to the Company's automatic email news release delivery, individuals can receive news directly from GMCR as it is released.
Certain information contained in this release, including statements concerning expected performance such as those relating to net sales, earnings, cost savings, acquisitions and brand marketing support, are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. Generally, these statements may be identified by the use of words such as "may," "will," "would," "expect," "should," "anticipate," "estimate," "believe," "forecast," "intend," "plan" and similar expressions intended to identify forward-looking statements. These statements may relate to: the expected impact of raw material costs and our pricing actions on our results of operations and gross margins, expected trends in net sales and earnings performance and other financial measures, the expected productivity and working capital improvements, the ability to maximize or successfully assert our intellectual property rights, the success of introducing and producing new product offerings, ability to attract and retain senior management, the impact of foreign exchange fluctuations, the adequacy of internally generated funds and existing sources of liquidity, such as the availability of bank financing, the expected results of operations of businesses acquired by us, our ability to issue debt or additional equity securities, our expectations regarding purchasing shares of our common stock under the existing authorizations, and the impact of the inquiry initiated by the SEC and any related litigation or additional governmental inquiry or enforcement proceedings.
These and other forward-looking statements are based on management's current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Results may be materially affected by external factors such as damage to our reputation or brand name, business interruptions due to natural disasters or similar unexpected events, actions of competitors, customer relationships and financial condition, the ability to achieve expected cost savings and margin improvements, the successful acquisition and integration of new businesses, fluctuations in the cost and availability of raw and packaging materials, changes in regulatory requirements, and global economic conditions generally which would include the availability of financing, interest, inflation rates and investment return on retirement plan assets, as well as foreign currency fluctuations, risks associated with our information technology systems, the threat of data breaches or cyber-attacks, and other risks described in the Company's filings with the Securities and Exchange Commission.
Actual results could differ materially from those projected in the forward-looking statements. The Company undertakes no obligation to update or revise publicly, any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Green Mountain Coffee Roasters, Inc.
Katie Gilroy, 781-205-7345
Corporate Comm Manager
KEYWORDS: United States North America Vermont
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