Green Mountain Coffee Roasters has named former Procter & Gamble and Coca-Cola executive Brian Kelley as its new president and CEO, effective Dec. 3. Kelley replaces Lawrence Blanford, who held the company's top spot since 2007 and announced his plans to retire in Feb. With Blanford at its helm, Green Mountain acquired Keurig, a manufacturer of single-cup coffee machines, in 2006, making it one of the fastest-growing U.S. companies. Although the company's market value increased five-fold with Blanford in charge, shares fell 41 percent this year.
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Keurig Drives 30% Profit Growth For Green Mountain In Q3
August 8, 2012
From Vending Times
TAGS: coffee, office coffee service, OCS business, vending, Green Mountain Coffee Roasters Inc., Lawrence J. Blanford, GMCR 2012 third quarter, Keurig single-up brewing system, K-Cup, Keurig Vue, Starbucks, Kroger's WATERBURY, VT -- Green Mountain Coffee Roasters Inc.'s net income increased 30% in the third quarter of fiscal 2012, pushed by demand for its Keurig single-up brewing system. Net income in the quarter ended June 23 was $73.3 million, or 47¢ a share, up from $56.35 million, or 38¢ per share, in the same period a year ago. Net sales increased 15% to $303.31 million, from $264.08 million a year