Stiller retires from GMCR board
WATERBURY — A year after being forced out as its chairman, Green Mountain Coffee Roasters founder Robert Stiller has retired from the company’s board of directors. Stiiler was named chairman emeritus.
The company also appointed three new directors to its board: John D. Hayes, executive vice president and chief marketing officer of American Express; Susan Saltzbart Kilsby, senior adviser to Credit Suisse AG; and Robert A. Steele, former vice chairman, Healthcare Strategy for The Procter & Gamble Company.
The appointments coincide with the retirements of Stiller and Lawrence Blanford, former president and CEO.
GMCR Chairman Norm Wesley said Stiller’s vision led the company to experience “unprecedented growth as it successfully transitioned from a regionally recognized specialty coffee roaster to a leader in the emerging single-serve (Keurig) beverage category in North America.”
“On behalf of many GMCR stakeholders, including our board and our executive leadership and all our employees, we express our gratitude to Bob and we are very pleased that he will assume the newly created role of chairman emeritus,” Wesley said in a statement.
Stiller was removed as board chairman last year because his stock trading to meet a margin call violated company policies. He remained on the board of directors until his retirement.
For his part, Stiller said it was the appropriate time to retire “and pursue a variety of personal interests.
“I am confident that GMCR’s culture of innovation, the breadth and depth of our board and leadership team, the determination of our employees and the incredible consumer enthusiasm for our brands will continue to drive value for all GMCR stakeholders,” Stiller said. “It has been the highlight of my business career to serve GMCR and I am enthusiastic to continue to do so in this new role.”
Stiller will make himself available for a period of one year following his retirement to provide advisory services and general advice to the company related to its social responsibility mission and business innovation strategy.
In connection with Blanford’s retirement, he will make himself available until Dec. 31 to provide general advisory services to GMCR.MORE IN This Just In
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