Cadbury Schweppes Announces Senior Management Changes At the Snapple Beverage Group.Business Editors WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Oct. 31, 2001 Cadbury Schweppes plc (NYSE NYSE See: New York Stock Exchange :CSG CSG - constructive solid geometry ) announced today that Mike Weinstein will be moving from his post as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Snapple Beverage Group (SBG) and has been appointed to the newly created position of President, Innovation and New Business Development for Cadbury Schweppes beverages effective November 26th. "I have been asked to take a new, broader role where I can contribute to the Cadbury Schweppes enterprise beyond the Snapple Beverage Group," said Weinstein. "After more than six years at the helm, I find the opportunity to take on new challenges refreshing and exciting." In great support of the existing management team, Cadbury Schweppes senior management has named Jack Belsito, currently President, to succeed Weinstein as CEO. Belsito has been with SBG three years and was with the Cadbury organization prior to his tenure at SBG for 11 years, from 1987-1998. During that time, Belsito held a number of positions including: SVP, Corporate Development, SVP, Franchising for Dr Pepper/Seven Up Dr Pepper/Seven Up, Incorporated was a Plano-based soft-drink manufacturing company created by the merger of Dr Pepper, Incorporated and The Seven Up Company on May 19, 1986. (DPSU DPSU Dr Pepper/Seven Up, Inc. DPSU Dufferin-Peel Secondary Unit: A Local Affiliation with the Oecta (Ontario English Catholic Teacher's Association) ) and SVP Franchising for Cadbury Beverages North America. "Jack's outstanding leadership qualities, entrepreneurial spirit, ability to innovate and extensive knowledge of the beverage industry make him the perfect choice," added Weinstein. Both Mike Weinstein and Jack Belsito will report to John Brock, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for Cadbury Schweppes. In further support of the existing management team, Michael Sands, Chief Marketing Officer, will add operations to his marketing responsibilities and report directly to Belsito. His new title will be Chief Marketing and Operations Officer. Sands was Vice President, Marketing for Snapple from 1997-1999, went to Ben & Jerry's Homemade Inc. as CMO CMO See: Collateralized mortgage obligation CMO See collateralized mortgage obligation (CMO). and returned to SBG in April this year. "Mike Weinstein's move to a Cadbury leadership role means we retain his vision and insight within the greater Cadbury enterprise," said Belsito. "He has helped build an amazing team of talented people across the Snapple Beverage Group and I am excited that I will have the privilege to lead this team." The Snapple Beverage Group, a unit of Cadbury Schweppes, plc (NYSE:CSG), has a beverage brand portfolio that includes Snapple(R), Mistic(R) and Stewart's(R). Photos available upon request |
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