Dive Brief:
- Keurig Dr Pepper has appointed former Mattel exec Anthony DiSilvestro as its new CFO as the soda and coffee giant prepares to close its JDE Peet’s acquisition and split into two beverage companies, the company announced Tuesday.
- DiSilvestro’s hire is effective immediately, and Keurig Dr Pepper said his M&A experience positions him well for the Peet’s integration and planned spinoff of the business into two independent companies.
- Former CFO Sudhanshu Priyadarshi will stay on in an advisory role until April 7, 2026, at which point he'll leave the company. Priyadarshi was previously set to become CEO of Keurig Dr Pepper’s planned coffee spinoff before the company announced last month that it would instead initiate a search to fill the role.
Dive Insight:
DiSilvestro enters his CFO role as Keurig Dr Pepper faces investor pushback over its plan to separate its coffee and beverage businesses into two independent companies.
Following the announcement of the plan, Keurig Dr Pepper’s valuation dropped $11 billion, with investors questioning the mechanics of the split and a resulting increase in debt. Since the announcement, Keurig Dr Pepper secured $7 billion from private equity firms to help finance the deal, which is valued at $18 billion and is expected to close in the first half of 2026.
Along with DiSilvestro’s hire, the beverage giant also announced other changes to top financial leader roles in order to better position itself for the split.
George Lagoudakis, senior vice president of commercial finance, will take on the new role of deputy CFO, in which he will assume responsibility for the separation and establishment of the new beverage business.
Jane Gelfand, meanwhile, recently took on the expanded role of senior vice president of strategic finance and capital markets. She will continue to lead investor relations and international finance and assume responsibility for the upcoming transaction management and financing.
At toy company Mattel, DiSilvestro was credited with modernizing the finance organization and strengthening the company’s balance sheet and credit profile, according to the press release. He also spent more than two decades at Campbell Soup Company, where he served as CFO from 2014 to 2019.
At Campbell's, he oversaw major transactions, helping lead acquisitions and divestitures that positioned the food company to play in more better-for-you categories.
“As a seasoned and forward-thinking CFO with deep expertise across food & beverage and consumer goods, Anthony is a natural fit for KDP,” CEO Tim Cofer said in the release. “He will play a crucial role in sustaining our Company's strong base business momentum, while drawing on his significant M&A experience to facilitate the successful integration of JDE Peet's and ultimate creation of two winning companies.”
