Green Mountain Coffee Roasters, Inc. Appoints Michael Degnan Chief Legal Officer, General Counsel; Sonia G. Cudd Named Secretary
WATERBURY, Vt.--(BUSINESS WIRE)-- Green Mountain Coffee Roasters, Inc., (GMCR) (NAS: 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 Corporation.
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 transition."
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 Citicorp/Citibank.
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 for Women.
About Green Mountain Coffee Roasters, Inc.
As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (GMCR) (NAS: 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 by law.
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