Dr Pepper Snapple Group Inc. has announced that Martin M. Ellen will join the company as executive vice president and chief financial officer on April 1, 2010. In addition to his strong background in finance, Ellen will bring considerable experience in franchising, operations and the beverage industry.
At DPS, he will be responsible for the company’s finance and IT organizations and will report to Larry Young, president and chief executive officer. He will succeed John O. Stewart, who last year announced his plans to retire on March 31, 2010.
“Marty’s extensive public company experience and involvement in strategy and operations, as well as finance, will bring valuable perspective to our executive leadership team as we continue to build on DPS’s position as the industry leader in flavored beverages,” Young said. “I am grateful for John’s many contributions to our business and look forward to working with Marty to take our young company to the next level of financial and operating success.”
Ellen, 56, will join DPS following almost eight years as senior vice president of finance and chief financial officer of Snap-on Inc., a $2.4 billion global innovator, manufacturer and marketer of tools, diagnostics, equipment, software and service solutions for professional users.
He has more than 25 years of broad experience serving as chief financial officer with companies in the manufacturing, distribution, franchising and services industries, including Whitman Corp., which then owned Pepsi Cola General Bottlers Inc. While at Whitman, Ellen was instrumental in developing and executing strategy, which included realigning and expanding Pepsi bottling territories in the United States and central Europe. He began his career with the international accounting firm PricewaterhouseCoopers in Chicago.
Plano, Texas-based Dr Pepper Snapple Group is a leading producer of flavored beverages in North America and the Caribbean. It has more than 50 brands. In addition to its flagship Dr Pepper and Snapple brands, the company’s portfolio includes Sunkist soda, 7UP, A&W, Canada Dry, Crush, Mott’s, Squirt, Hawaiian Punch, Penafiel, Clamato, Schweppes, Venom Energy, Rose’s and Mr & Mrs T mixers.