Green Mountain Coffee Names Former P&G, Coke Exec as New CEO

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.