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Diving overview:
- Keurig Dr Pepper has been named a full-time executive at Mattel. Anthony DiSilvestro has been appointed as the new CFO. The company made the announcement Tuesday as the soda and coffee giant closes its acquisition of JDE Peet and prepares to split it into two beverage companies.
- DiSilvestro’s hiring is effective immediately, and Keurig Dr Pepper said his M&A experience makes him well-suited for the integration of Peet’s and the division of the business into two independent companies.
- Former CFO Sudhanshu Priyadarshi will leave the company after serving in an advisory role until April 7, 2026. Priyadarshi Previously scheduled to become CEO Keurig Dr Pepper halted its planned coffee spinoff before the company announced last month that it would begin a search to fill the role.
Dive Insights:
DiSilvestro takes on the CFO role as Keurig Dr Pepper faces investor backlash over its plan to separate its coffee and beverage businesses into two independent companies.
After announcing the plan, Keurig Dr. Pepper Corporate value fell by $11 billionInvestors are questioning the split mechanism and the resulting increase in debt. Since the announcement, Keurig Dr Pepper has secured $7 billion from private equity funds to help finance the deal. Valued at $18 billion It is scheduled to be completed in the first half of 2026.
Along with DiSilvestro’s hiring, the beverage giant also announced other changes to its top financial leader role to better position itself for the spinoff.
George Lagoudakis, senior vice president of commercial finance, will assume the new role of deputy CFO and be responsible for the spin-off and establishment of the new beverage business.
Meanwhile, Jane Gelfand recently expanded her role as senior vice president of strategic finance and capital markets. She will continue to lead investor relations and international financing and assume responsibility for future transaction management and financing.
At toy company Mattel, DiSilvestro was credited with modernizing the financial organization and strengthening the company’s balance sheet and credit profile, according to a press release. He also spent more than 20 years at Campbell Soup Company, where he served as CFO from 2014 to 2019.
At Campbell’s, he helped lead and oversaw major transactions. factor and sale This puts food companies in a position to operate in categories that are better for you.
“As a seasoned and forward-thinking CFO with deep expertise across food, beverage and consumer goods, Anthony is the perfect fit for KDP,” CEO Tim Cofer said in a press release. “He will play a critical role in maintaining our company’s strong underlying business momentum while leveraging his significant M&A experience to facilitate the successful integration of JDE Peet and ultimately the creation of two successful companies.”
