PLANO, Texas, March 19 /PRNewswire-FirstCall/ — Cadbury Schweppes plc today announced that it has appointed four new members to the Board of Directors of Dr Pepper Snapple Group, Inc. (DPSG), its U.S. beverages subsidiary. The four directors — Jack Stahl, Terry Martin, Pamela Patsley and Anne Szostak — collectively bring extensive consumer goods, financial services and public company experience to their new positions at DPSG, which is preparing to demerge from Cadbury Schweppes into a separately traded public entity. Information relating to the new Board members, as well as to the distribution of both Cadbury plc and DPSG shares and Board structure is included in a Circular published by Cadbury Schweppes today and available to view on the Cadbury Schweppes website at http://www.cadburyschweppes.com/demerger . It will also be included in a revised draft Form 10 document expected to be filed Thursday, March 20, 2008 by class=”c10″>Dr Pepper Snapple Group with the U.S. Securities and Exchange Commission, which will be available on http://www.sec.gov/ .
The new members will be joined on the Board by Wayne Sanders, the former Chairman and CEO of Kimberly-Clark Corp. who was previously named as the company’s incoming Chairman, DPSG Chief Executive Officer Larry Young and DPSG Chief Financial Officer John Stewart. Each of the directors will formally be named as Board members once the company completes its separation from Cadbury Schweppes and begins trading on the New York Stock Exchange, currently planned for May 7. Two additional non-executive members will be appointed to the DPSG Board at a later date, bringing the total number of directors to nine.
“I am extremely pleased that Dr Pepper Snapple Group has attracted such a distinguished group of highly qualified Board members to help oversee its transition to an independent publicly traded company,” Mr. Sanders said. “Their diverse backgrounds and relevant industry experience perfectly complement the talented management team DPSG already has in place, and will only accelerate the company’s ambition to become an industry leader in each category in which it competes. I look forward to working alongside each of them and leveraging their extensive knowledge and capabilities as we begin writing the next chapter in the company’s history.”
Jack Stahl has wide consumer goods experience, particularly in the beverages industry, having spent 22 years at The Coca-Cola Company where he was CFO and Senior Vice President of the North America Group and Senior Vice President of the Americas Group before becoming President and Chief Operating Officer. From 2002 to 2006 he was Chief Executive Officer and President of Revlon. Mr. Stahl is currently on the Board of Schering-Plough Corporation.
Terry Martin has broad public company and consumer packaged goods experience having served as CFO of Quaker Oats Company, which included the Gatorade brand, SPX Corporation and American Cyanamid Company. He retired in 2001 following the sale of Quaker Oats to PepsiCo. He is on the Board of Del Monte, one of the country’s largest food producers and distributors, where he is Chairman of the Audit Committee.
Pamela Patsley is a CPA and has over 20 years of executive experience in the financial services sector, including as CFO of First USA, Inc. She was Senior Executive Vice President of First Data Corporation from 2000 to 2007 and President of First Data International from 2002 to 2007. Ms. Patsley joined First Data in 2000, having previously been President and CEO of Paymentech, Inc. She currently serves on the Boards of Molson Coors Brewing Company and Texas Instruments, Inc. where she chairs the Audit Committee.
Anne Szostak is currently President and CEO of Szostak Partners, which provides advice on strategic and human resource issues. From 1973 to 2004 she held executive positions at FleetBoston Financial Corporation including serving as Executive Vice President and Corporate Director, Human Resources and Diversity, and Chairman and Chief Executive Officer of both Fleet Bank Rhode Island and Fleet Bank Maine. She is also a director at Belo Corporation, ChoicePoint, Inc., Spherion Corporation and Tupperware Brands Corporation.
About Dr Pepper Snapple Group
Dr Pepper Snapple Group will be the new name for Cadbury Schweppes Americas Beverages (CSAB) on demerger. The business is based in Plano, Texas and is currently a subsidiary division of Cadbury Schweppes plc(NYSE:CSG). It is one of the largest producers of soft drinks and premium beverages in the Americas. The DPSG brand portfolio includes Dr Pepper, 7UP, Snapple, Mott’s Apple Juice, RC Cola, A&W Root Beer, Sunkist Soda, Canada Dry, Hawaiian Punch, Schweppes, Diet Rite, Clamato, Mr & Mrs T Mixers, Holland House Mixers, Rose’s, Mistic, Yoo-hoo, Orangina, IBC, Stewart’s, Nantucket Nectars and other well-known consumer brands. For additional information on DPSG and its products, visit http://www.brandspeoplelove.com/ .