News Summary: Green Mountain Coffee names new CEO

AP News
Posted: Nov 20, 2012 12:36 PM

NEW LEADER: Green Mountain Coffee Roasters Inc. named Coca-Cola executive Brian Kelley as its new CEO. Kelley, 51, will also become president and join the board, effective Dec. 3.

RETIREMENT: The Waterbury, Vt., company's current CEO, Lawrence Blanford, said in February that he planned to retire.

THE CHALLENGES: The coffee company is dealing with slowing sales growth. A pioneer of single-serve coffee in the U.S. with its Keurig machines, Green Mountain Coffee grew quickly on their popularity. But the company has struggled as patents on technology for its K-Cups expired and competitors released their own single-serve coffee makers.