Weight Watchers North American Chief to Head Peet's Coffee

   By Debbie Cai 
 

Peet's Coffee & Tea Inc. named Weight Watchers International Inc. (WTW) executive David Burwick as its new chief executive and president, a move that comes weeks after the struggling coffee seller was taken private.

Mr. Burwick will succeed Patrick O'Dea, who is stepping down after more than a decade as Peet's president and CEO, but he will continue as a member of the company's board.

Mr. Burwick, who most recently served as president of North America for Weight Watchers, has more and two decades of experience in beverage and retail operations. Prior to Weight Watchers, he served in senior roles at PepsiCo Inc. (PEP). Mr. Burwick's appointment is effective Dec. 31.

Peet's was taken private two weeks ago by German investment group Joh. A. Benckiser for about $1 billion. The company, which is focused on the bagged-coffee segment, has struggled with higher coffee-bean costs in recent months. Peet's has also been hindered by not participating in the fast-growing single-serve market, which is grabbing market share.

Separately, Weight Watchers said its CEO David Kirchhoff will handle its North American operations--including the products, publishing and licensing businesses--in the interim until a replacement for Mr. Burwick is appointed.

Shares for Weight Watchers were up 79 cents at $57.19 in recent after-hours trading. The stock is down 16% over the past 12 months.

Write to Debbie Cai at [e-mail]

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