Green Mountain Coffee Roasters, Inc., (GMCR) (NASDAQ: GMCR), a leader in
specialty coffee and coffee makers, today announced Michael Degnan has
been appointed Chief Legal Officer, Corporate General Counsel. In
addition, Sonia G. Cudd has been appointed Secretary. Both appointments
are effective March 31, 2013.
Mr. Degnan, who has served as GMCR's Vice President, Associate General
Counsel - Operations since January 2011, replaces retiring Chief Legal
Officer, Corporate General Counsel and Secretary, Howard Malovany.
Malovany's retirement was previously announced on December 18, 2012.
"After an extensive search and thorough selection process including
external candidates, it was clear that Mike's strong history of business
partnering and strategic thinking in support of the growth of the
business made him the best choice for the General Counsel role," said
Brian P. Kelley, President and CEO of GMCR. "Mike has a deep
understanding of our business, its customers, partners, suppliers and
other stakeholders which will be critical as we work to take GMCR into
its next phase of growth."
"On behalf of the entire GMCR team, I sincerely thank Howard for his
support and counsel to the business over the last four years. We wish
him the best in his retirement," Kelley continued.
Degnan originally came to GMCR through the acquisition of Keurig,
Incorporated in 2006. He joined Keurig in 2004 as its Corporate Counsel,
becoming Vice President, Corporate Counsel and Secretary in 2005 and
adding the title of General Counsel shortly thereafter. His experience
prior to GMCR includes 11 years in private practice focused on general
corporate and transactional law for two Boston law firms, Rich May, a
Professional Corporation, and Craig and Macauley Professional
Prior to earning his law degree in 1993, Degnan worked as a banking
officer for Bank of New England Corporation. Mr. Degnan earned his Juris
Doctor from Boston College Law School. He also holds a Bachelor of
Science, Finance from Boston College.
Ms. Cudd, who has served as GMCR's Vice President, Associate General
Counsel - Corporate since April 2012, will continue to serve in that
capacity while assuming additional responsibilities including Secretary
for the Company.
Kelley concluded, "Sonia's deep governance and regulatory experience
were well suited for the role of Secretary and will help ensure a smooth
Ms. Cudd's experience includes 18 years of corporate, securities and
governance practice with the Bill & Melinda Gates Foundation, McCormick
& Company Incorporated as well as with the law firms Whiteford, Taylor &
Preston L.L.P. and Blank Rome L.L.P. She also served at the U.S.
Securities & Exchange Commission, Division of Corporation Finance. Prior
to earning her law degree, Cudd worked as a financial analyst for
Cudd earned her Juris Doctorate from The John Marshall Law School. She
also holds a B.A. in Finance and a B.S. in Economics from Hood College
About Green Mountain Coffee Roasters, Inc.
As a leader in specialty coffee and coffee makers, Green Mountain Coffee
Roasters, Inc. (GMCR) (NASDAQ: GMCR), is recognized for its
award-winning coffees, innovative Keurig® Single Cup brewing
technology, and socially responsible business practices. GMCR supports
local and global communities by offsetting 100% of its direct greenhouse
gas emissions, investing in sustainably-grown coffee, and donating a
portion of its pre-tax profits to social and environmental projects.
GMCR routinely posts information that may be of importance to investors
in the Investor Relations section of its website, including news
releases and its complete financial statements, as filed with the SEC.
The Company encourages investors to consult this section of its website
regularly for important information and news. Additionally, by
subscribing to the Company's automatic
email news release delivery, individuals can receive news directly
from GMCR as it is released.
Certain information contained in this filing, including statements
concerning expected performance such as those relating to net sales,
earnings, cost savings, acquisitions and brand marketing support, are
"forward-looking statements". Generally, these statements may be
identified by the use of words such as "may," "will," "would," "expect,"
"should," "anticipate," "estimate," "believe," "forecast," "intend,"
"plan" and similar expressions intended to identify forward-looking
statements. These statements may relate to: the expected impact of raw
material costs and our pricing actions on our results of operations and
gross margins, expected trends in net sales and earnings performance and
other financial measures, the expected productivity and working capital
improvements, the ability to maximize or successfully assert our
intellectual property rights, the success of introducing and producing
new product offerings, ability to attract and retain senior management,
the impact of foreign exchange fluctuations, the adequacy of internally
generated funds and existing sources of liquidity, such as the
availability of bank financing, the expected results of operations of
businesses acquired by us, our ability to issue debt or additional
equity securities, our expectations regarding purchasing shares of our
common stock under the existing authorizations, and the impact of the
inquiry initiated by the SEC and any related litigation or additional
governmental inquiry or enforcement proceedings.
These and other forward-looking statements are based on management's
current views and assumptions and involve risks and uncertainties that
could significantly affect expected results. Results may be materially
affected by external factors such as damage to our reputation or brand
name, business interruptions due to natural disasters or similar
unexpected events, actions of competitors, customer relationships and
financial condition, the ability to achieve expected cost savings and
margin improvements, the successful acquisition and integration of new
businesses, fluctuations in the cost and availability of raw and
packaging materials, changes in regulatory requirements, and global
economic conditions generally which would include the availability of
financing, interest, inflation rates and investment return on retirement
plan assets, as well as foreign currency fluctuations, risks associated
with our information technology systems, the threat of data breaches or
cyber-attacks, and other risks described in our filings with the
Securities and Exchange Commission.
Actual results could differ materially from those projected in the
forward-looking statements. We undertake no obligation to update or
revise publicly, any forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be required
Green Mountain Coffee Roasters, Inc.
Suzanne DuLong, 802-488-2600
IR & Corporate Comm
Corporate Comm Manager