A Shake-Up in the C-Suite: Keurig Dr Pepper Welcomes New Finance Chief
Anthony DiSilvestro steps in as the new Chief Financial Officer (CFO) of Keurig Dr Pepper. He joins from Mattel, where he served as CFO for five years. DiSilvestro will be based in Burlington and report to CEO Tim Cofer.
Company Changes and Plans
This leadership change comes at a pivotal time for Keurig Dr Pepper. The company is planning to:
- Acquire JDE Peet’s, a major European coffee company.
- Split their coffee and cold beverage businesses by 2026.
Sudhanshu Priyadarshi, the previous CFO, was initially set to lead the global coffee company post-split. However, this plan has been altered. Priyadarshi will now serve as a strategic advisor until April 7.
Tim Cofer expressed enthusiasm about DiSilvestro's extensive experience, which includes roles at Campbell Soup Co. and Scott Paper Co. before Mattel. Cofer believes DiSilvestro will be instrumental in the company's future endeavors.
ByHeart Infant Formula Contamination
ByHeart infant formula is facing serious concerns. Tests revealed potential contamination with bacteria that can cause botulism. At least 31 babies in 15 states fell ill after consuming ByHeart formula. The company acknowledged that they cannot rule out the risk of contamination across all their products.
Economic Confidence Drops
US consumer confidence has hit a low. The Conference Board's consumer confidence index dropped to 88.7 in November, the lowest since April. High costs and slow job growth are the primary concerns. This decline could impact President Trump and Republicans in Congress, particularly among independent voters.
Campbell Soup Company Investigation
Campbell Soup Company is investigating Martin Bally, their Vice President of Information Technology. Bally is on leave while the company looks into claims of racist comments and derogatory remarks about the company's products and customers.
Robert Garza, a former employee, filed a lawsuit against Bally and Campbell's. Garza alleged that Bally made racist remarks about Indian workers and referred to Campbell's products as "highly processed food for poor people." Garza was fired on January 30. Campbell's stated that they do not tolerate such behavior.
X (Twitter) New Feature
X (formerly Twitter) has introduced a new feature that reveals the location of account origins. This has sparked interest as many accounts seemingly run by American Trump supporters are actually based in South Asia, Africa, and Eastern Europe. These accounts have significant followings and often post about US politics, sometimes spreading misleading information.
Federal Reserve Chair Search
Treasury Secretary Scott Bessent is searching for a new Chair of the Federal Reserve. He stated that the Fed has become too complex. Bessent has been interviewing candidates and will conduct final interviews today. President Trump may announce his nomination before December 25.
The finalists include:
- Fed Governors Christopher Waller and Michelle Bowman
- Former governor Kevin Warsh
- National Economic Council Director Kevin Hassett
- BlackRock Inc. executive Rick Rieder
