On Tuesday, Green Mountain Coffee Roasters announced new developments related to the composition of its board of directors.
Norman H. Wesley has been elected chairman of the board, and former Kellogg CEO David Mackay has been elected as a new, independent director, increasing the number of members of the board to 10. Green Mountain describes eight of these 10 members as being "independent."
Wesley served as CEO and chairman of Fortune Brands, which has been separated into distilled-spirits company Beam and Fortune Brands Home & Security . New independent director Mackay is currently the non-executive chairman of Beam, serves on the board of directors of Fortune Brands Home & Security and previously served as a director of Fortune Brands, Inc.
Michael J. Mardy, who previously served as interim chairman of the GMCR board, will continue to serve as audit committee chair.
Green Mountain also has a relatively new chief executive officer, having appointed Brian Kelley to the post effective Dec. 3.
The article Green Mountain Coffee Roasters Shakes Up Its Board originally appeared on Fool.com.Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool has the following options: long DEC 2012 $16.00 puts on Green Mountain Coffee Roasters. Motley Fool newsletter services recommend Beam and Green Mountain Coffee Roasters. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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