Breyers Yogurt Company, names James W. Nolan as CEO.

Pepsi closes on California bottler acquisition

Spectrum Brands Appoints David Lumley CEO as Kent Hussey Retires

Spectrum Brands announced today that after leading the Company's successful operational and financial restructuring initiatives to return the Company to profitability Kent Hussey is retiring as Chief Executive Officer. Mr. Hussey will continue to serve as Chairman of the Board through the close of the Company's transaction with Russell Hobbs, Inc. when a successor will be named. As previously disclosed on February 9, 2010, the Company announced a proposed merger to bring the Russell Hobbs' network of well-known small household appliance brands into Spectrum's operating structure to form a new $3 billion consumer products company. This transaction is expected to close this summer.

David Lumley, who most recently has been serving as president, Global Batteries & Personal Care and Home & Garden and co-chief operating officer, has been named CEO, effective immediately. The Board also amended the Company's bylaws to expand the Board of Directors to 8 members and named Mr. Lumley to fill the newly created vacancy. Since joining the Company in 2006, Mr. Lumley has been an instrumental part of the remarkable turnaround of the Company's business units. Over the past several years, Mr. Lumley has significantly improved the efficiency of the Company's operations and driven down its costs while increasing the market share in some of the Company's key product categories. He assumes his new role as the Company prepares to add the Russell Hobbs' family of consumer brands to its portfolio. His vast experience will prove invaluable as the Company moves forward under his direction.

Retiring after a distinguished 41-year career, Mr. Hussey has been with Spectrum Brands for nearly 14 years and was named CEO in May 2007. During his tenure, Mr. Hussey significantly improved the Company's cost structure as well as its operational effectiveness and efficiency by reorganizing the business units into the structure utilized today, which is comprised of three autonomous operating segments: (1) Global Batteries & Personal Care; (2) Global Pet Supplies; and (3) Home & Garden. Each of these businesses delivered positive and increased year-over-year adjusted EBITDA during the most recent fiscal year and are poised to deliver another year of improved profitability for fiscal 2010. Also, during 2009, Mr. Hussey successfully led the Company through a financial restructuring of the Company's balance sheet that eliminated approximately $840 million in subordinated debt and helped improve the Company's financial position for the future.

"While it is difficult to leave such a tremendous company with a team of incredibly dedicated, hard-working and creative people, I am pleased with all that we have accomplished," said Mr. Hussey. "I'm confident that I'm leaving the Company in good hands and at the right time as the Company is moving into its next phase. Dave, who has extensive experience, is well positioned to lead the teams as the Company expands into a $3 billion global consumer products company."

While maintaining managerial responsibility for the Global Batteries & Personal Care and Home & Garden business segments, Mr. Lumley will assume the role of CEO immediately. Going forward the Executive Committee of the Company will be comprised of Dave Lumley, CEO; Tony Genito, CFO; John Heil, President of Global Pet Supplies; and John Wilson, Senior Vice President, Secretary and General Counsel. As part of this announcement, Spectrum Brands will transition its corporate headquarters from Atlanta, GA back to Madison, WI. Additionally, Mr. Hussey has signed a 3-year consulting agreement to assist with the ongoing transition and implementation of the merger with Russell Hobbs.

About Spectrum Brands, Inc.

Spectrum Brands is a global consumer products company and a leading supplier of batteries, shaving and grooming products, personal care products, specialty pet supplies, lawn & garden and home pest control products, personal insect repellents and portable lighting. Helping to meet the needs of consumers worldwide, included in its portfolio of widely trusted brands are Rayovac®, Remington®, Varta®, Tetra®, Marineland®, Nature's Miracle®, Dingo®, 8-in-1®, Spectracide®, Cutter®, Repel®, and HotShot®. Spectrum Brands' products are sold by the world's top 25 retailers and are available in more than one million stores in more than 120 countries around the world. Headquartered in Atlanta, Georgia, Spectrum Brands generates annual revenue from continuing operations in excess of $2 billion.

Coca-Cola Names New CMO for North America

Coca-Cola has named Beatriz Perez as the new CMO for North America to replace Katie Bayne, who has been elevated to president and general manager of sparkling beverages for Coca-Cola North America.
 
Perez, who took her new post on April 1, most recently served as svp of integrated marketing for Coca-Cola North America. In that role, she oversaw several media, interactive, entertainment and sports partnerships, including Nascar, PGA, U.S. Olympic Committee, American Idol and the Academy Awards, among others. In her new role, Perez will report to Joe Tripodi, chief marketing and commercial officer for The Coca-Cola Co.  
 
Perez, who joined Coke as an associate brand manager in 1996, was also responsible for launching the Coke Digital Network, the company's media communication tool.
 
Prior to joining Coca-Cola, Perez worked for DMB&B/Sosa, Bromley, Aguilar, Noble and Associates, where she was an account supervisor.
 
Coca-Cola North America has not yet named Perez's successor.

Bayne, who was behind the Coca-Cola Rewards program, among other projects, had been CMO for North America since 2007. She now replaces Hendrik Steckhan in her new role.

The Coca-Cola Co. spent $412 million on advertising in 2009, excluding online, per the Nielsen Co. Wieden + Kennedy, Portland, Ore., is the lead agency that handles the Coca-Cola and Diet Coke soft drink brands.

Clorox Is Moving Toward Sale of Auto Brands STP, Armor All

Consumer-products giant Clorox Co. is moving toward the sale of its two automotive brands, STP and Armor All, and will likely launch a process to auction the well-known names, according to people familiar with the matter.

The Oakland, Calif., company has been analyzing its large product portfolio and could hire an investment bank within the next couple of months to handle the sale, these people said. STP and Armor All have combined annual sales of about $300 million.

It isn't clear how much the two brands would fetch in a sale, though several people estimated Clorox would try to get about $800 million or more. STP, a maker of oil treatments, brake fluid and fuel-system cleaners, is seen as more valuable than Armor All, which makes automotive polishes, auto-glass cleaners and upholstery cleaners.

Clorox, which got STP in the 1999 acquisition of First Brands Inc., is in the process of "cleaning house," said one person familiar with the situation. The company has received expressions of interest in the two units, this person said.

"They are thinking of alternatives for the businesses and do not see them as strategic," one person familiar with the discussions said.

A Clorox spokeswoman declined to comment on "specific actions the company might take."

Investment bankers have approached consumer-product companies, such as Unilever, and private-equity funds to gauge their interest if STP and Armor All are put on the block, according to people familiar with the matter.

A sale of STP and Armor All would be the latest example of brands changing hands as weakness in consumer spending prods companies into deal mode.

In September, Sara Lee Corp. agreed to sell its international personal-care business to Anglo-Dutch consumer giant Unilever NV for about $2 billion. Sara Lee made a deal in December to sell its European air-freshener business to Procter & Gamble Co. for about $500 million. P&G is said to be considering selling some of its brands, such as snack-food brand Pringles.

Clorox has one of the widest-ranging product portfolios in the household-products sector: In addition to its namesake bleach, the company's brands include Kingsford charcoal, Hidden Valley dressing and Brita water filters. Nevertheless, Clorox has long regarded auto-care brands Armor All and STP, to be outside the company's core, preferring to focus on products that promote wellness, sustainability and affordability.

The automobile waxes and polishes market has declined in recent years, with U.S. sales of $83 million last year, down 22% from 2005, according to market-research firm SymphonyIRI Group. Those figures don't include data from Wal-Mart Stores Inc. or club stores. Armor All's top-selling waxes and polishes have a market share of more than 40%, according to SymphonyIRI.

In 2007, Clorox Chief Executive Don Knauss told analysts that the company would prune brands that weren't performing sufficiently, identifying the auto brands as potential targets.

Last week, Deutsche Bank analyst Bill Schmitz noted Clorox is "looking at selling off slower growing brands to focus on building or acquiring faster-growing businesses, or to accelerate its share-repurchase program."

Clorox had sales of $5.45 billion its latest fiscal year, up 3% from a year earlier. The recession has been difficult for Clorox, with many of its products, especially Kingsford charcoal, Clorox bleach and Glad trash bags, susceptible to competition from cheaper private-label versions.

P&G's Lafley Joins Private-Equity Firm

Clayton, Dubilier & Rice Adds Another Brand-Name Chief Executive to Advise the Firm and Its Businesses

Mr. Lafley, who retired from the world's largest consumer-products company in February after a 33-year career, is taking a new role at private-equity firm Clayton, Dubilier & Rice LLC. He will serve as a "special partner" advising the firm and its companies on management issues ranging from product innovation to global expansion.

Former Procter & Gamble Chairman and Chief Executive A.G. Lafley joined buyout firm Clayton, Dubilier & Rice.

"I want to do things I really enjoy with people I really like," said the 62-year-old Mr. Lafley, who was known at P&G for prolific deal making. "For 33 years at P&G, I spent my career starting up new businesses and fixing established ones, and I think that private equity does just that."

The hire is a coup for New York-based Clayton Dubilier, a pioneering private-equity firm with stakes in companies including rental-car brand Hertz Corp. and commercial-cleaning company Diversey Inc. Among the first buyout shops to tout its capabilities in operating businesses, Clayton Dubilier has a stable of brand-name chief executives on its payroll such as John F. Welch Jr., the former General Electric Co. CEO, and Edward Liddy, the ex-CEO of insurer Allstate Corp. who also served a stint as the government-appointed CEO of insurer American International Group.

Private-equity firms are loading up on seasoned executives as they look for help managing their companies in a difficult economic environment that hinders growth. Carlyle Group is expected to announce Wednesday that Robert Essner, the former CEO of pharmaceutical company Wyeth, now part of Pfizer Inc., will join the firm as a senior adviser. CCMP Capital has brought on as its chairman Greg Brenneman, a highly regarded CEO at several companies including Burger King Corp.

Mr. Lafley stepped down as P&G's chief executive last July and remained as chairman until Jan. 1. Longtime P&G executive Robert McDonald, a close colleague of Mr. Lafley's, succeeded him in both posts.

Mr. Lafley's storied P&G career began in 1977 when he started there as a brand assistant for Joy dishwashing liquid. In the two decades that followed, he ascended to the chief executive post where his nine-year tenure was marked by prolific deal making. Even before his blockbuster $57 billion purchase of Gillette in 2005, Mr. Lafley already had inked the biggest deals in P&G history.

Trying to steer P&G into faster-growing, higher-margin beauty products, Mr. Lafley purchased Clairol in 2001 for nearly $5 billion and Wella two years later for more than $6 billion. Meanwhile, he sold off P&G's slow-growing food businesses, including Jif peanut butter, Sunny Delight orange drink and Folgers coffee. Under Mr. Lafley's leadership, P&G sales more than doubled, while profit quintupled since 2001.

Mr. Lafley, who just returned from a five-week trek in New Zealand, also will be giving speeches and is writing a book about strategy. He plans to continue serving as a director for GE and chairman of the board of trustees for Hamilton College, Mr. Lafley's alma mater.

Jones Soda names third CEO to hold post in two years

Beleaguered Jones Soda Inc. named its third CEO in the past two years, with Wednesday’s announcement that William Meissner now has the job.

Meissner replaces Joth Ricci, who was named CEO and president about a year ago. Ricci had replaced Stephen Jones, who was named to the post in 2008, replacing founder and former CEO Peter van Stolk, who stepped down in 2007 from the CEO post.

The new CEO’s first job is apparently trying to find a buyer for the Seattle soda company, which last month said that it was being sold to Reed’s Inc. of Los Angeles for about $10 million, but later in the month said it had received interest from another, unnamed potential buyer.

Meissner most recently was president of Talking Rain Beverage and previously worked for Fuze Beverages.

Sara Lee's North American bakery unit CEO resigns

The head of Sara Lee's North American bakery unit is leaving the company.

Sara Lee Corp. said James W. Nolan, executive vice president and CEO of North American Fresh Bakery has resigned, according to a filing with the Securities and Exchange Commission on Wednesday.

The 54-year-old is leaving for another professional opportunity, the company said. Nolan's resignation is effective April 9.

A replacement has not yet been named.

According to a biography on the company's Web site, Nolan joined the company in 2005 as CEO of Sara Lee Foodservice. He has also worked with PepsiAmericas, a Pepsi bottler, and PepsiCo Inc.

Sara Lee shares rose 2 cents to close at $13.93.

Dirk Van de Put Joins McCain as Chief Operating Officer

 McCain Foods Limited announced the appointment of Dirk Van de Put as Chief Operating Officer, effective May 17^th, 2010. In this new role, created as a result of the company’s succession planning efforts, Van de Put will have direct accountability for McCain’s operating businesses, including integrated supply chain, globally. He will also be a member of the OpCo Board of Directors.

Van de Put brings to McCain extraordinary global experience from more than 20 years in the food industry, most recently as President, Global OTC (over the counter), Consumer Health business. Prior to joining Novartis, Van de Put spent more than a decade with Group Danone in progressively more responsible positions, leaving as Senior Executive Vice President and President, Americas Division. Prior to Danone Van de Put spent more than a decade at Mars Incorporated, a private family company, in both marketing and general management roles in Belgium, Puerto Rico and Argentina. He also spent time in supply chain and general management with The Coca-Cola Company in Puerto Rico and Brazil.

Van de Put grew up in Belgium and obtained his Doctor in Veterinary Medicine from the University of Gent in Belgium in 1985 and continued on, after discovering a passion for business, to complete his MBA from the University of Antwerp in 1987. He is linguistically gifted, fluent in Dutch, English, French, Spanish, Portuguese and German.

Van de Put will be moving to Toronto with his family from Miami, Florida.

Coke Picks Executive to Lead Bottling Integration

Coca-Cola Co. appointed North America supply-chain chief Brian P. Kelley to lead the integration effort after the beverage giant finishes acquiring the bulk of its largest bottler.

Coke last month agreed to buy Coca-Cola Enterprises Inc.'s North American operations in a roughly $12 billion deal that is expected to prompt wide-ranging changes in the way the company distributes its drinks.

Mr. Kelley has led Coca-Cola's North America still-beverages unit--which includes noncarbonated beverages like bottled water and juices--since 2007 and has been responsible for Coke's supply chain, which includes 23 company-owned plants.

He will report to an integration steering committee headed by Chairman and Chief Executive Muhtar Kent. Mr. Kelley also will form a team of Coca-Cola and CCE executives that will develop plans to integrate parts of the businesses in the U.S. and Canada and prepare plans for remaining North American businesses--primarily related to consumer marketing and leadership for its independent bottlers.

As part of the deal, Coca-Cola Enterprises agreed in principle to buy Coca-Cola's bottling operations in Norway and Sweden and obtain the right to acquire a German bottler.

PepsiCo Inc. recently acquired its bottlers, and the two beverage companies say the acquisitions will make them more nimble in North America, where noncarbonated drinks have become a more important part of the beverage industry.

Coke has said the deal will help it cut out substantial overlap in its distribution system to retailers and restaurant chains in the U.S. At the moment, a bottler like CCE would drop off bottled drinks to the coolers in a food-service outlet, but Coca-Cola would supply the concentrate for fountain drinks to the same outlet.