Keurig Dr Pepper names CEO for planned coffee spin-off; shares rise
KDP•Keurig Dr Pepper named Kimberly-Clark executive Russ Torres CEO of its coffee business, Global Coffee Co, which is planned to become a publicly traded company early next year. Shares rose 1.4%.
1. Coffee business leadership
Torres will join on Nov. 3. He brings three decades of consumer goods experience leading global brands and large-scale business transformations.
2. Shares and ratings
Keurig Dr Pepper shares rose 1.4% to $30.78 and were down 9.9% year to date, including the session's move. Thirteen of 20 brokerages rated the stock “buy” or higher, while seven rated it “hold”; the median price target was $37.
