Keurig Dr Pepper has named Russ Torres, a Kimberly-Clark executive, as the new CEO of its coffee division. This appointment comes ahead of the company’s planned separation of its beverage and coffee units into two independent companies.
Torres will join Keurig Dr Pepper on November 3 and will be responsible for leading the integration of Keurig Dr Pepper and JDE Peet’s coffee operations. He will report to Tim Cofer, the current CEO, who will lead the beverage business after the split.
This marks the third time Keurig Dr Pepper has selected a CEO for its coffee spinoff since announcing the corporate split last year. Initially, Sudhanshu Priyadarshi, the company’s CFO, was chosen, followed by Rafael Oliveira, CEO of JDE Peet’s. Oliveira left for a CEO position at Heineken over the summer.
The separated coffee company, Global Coffee Co., is expected to generate $16 billion in annual revenue from brands like Keurig, Peet’s, and Green Mountain Coffee Roasters. Keurig Dr Pepper acquired JDE Peet’s last year for $18 billion, a move that received mixed reactions from investors.
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Torres brings extensive experience to the role, having served as president and chief operating officer at Kimberly-Clark. He was also group president of North America, where he drove profitable growth. His background includes roles at Newell Brands, Bain & Company, and Mondelēz International.
In a statement, Pamela Patsley, Keurig Dr Pepper’s chair, praised Torres as a proven leader with the skills needed to guide Global Coffee Co. through complex changes. She noted his track record of delivering consistent results with high-performing teams.
Keurig Dr Pepper’s recent financial performance highlights the impact of the JDE Peet’s acquisition. In the latest quarter, the company reported $7.31 billion in net sales, a 75.6% increase year-over-year. Excluding the acquisition, sales grew by 7.3%.