DPSG Elects New Exec to its Board
Dr Pepper Snapple Group announces that Mike Weinstein, chairman of INOV8 Beverage Company LLC and an executive in the beverage industry for more than 35 years, is elected to its board of directors.
Weinstein is a co-founder of INOV8, which specializes in developing and commercializing innovative beverage products such as HYDRIVE energy drink. Dr Pepper Snapple Group holds a minority interest in HYDRIVE Energy LLC, a subsidiary of INOV8. Due to his business relationship with DPS, Weinstein will not qualify as an independent director.
Additionally, John Stewart, DPS' chief financial officer, advises the board that he will not stand for re-election when his initial term expires May 19, 2009. Stewart will continue to serve as DPS' chief financial officer.
Weinstein served as president and chief operating officer of A&W Brands Inc., in the early 1990s and later as chief executive officer of Snapple Beverage Group, which was acquired by Cadbury Schweppes in 2000. During his career, he also has overseen such brands as RC Cola, Squirt, Mistic, Stewart's and Vernor's and has led global innovation and business development teams. Weinstein was named to Beverage World magazine's Hall of Fame in 2000 and received Beverage Digest's "Visionary Award" in 2004.
Weinstein is a co-founder of INOV8, which specializes in developing and commercializing innovative beverage products such as HYDRIVE energy drink. Dr Pepper Snapple Group holds a minority interest in HYDRIVE Energy LLC, a subsidiary of INOV8. Due to his business relationship with DPS, Weinstein will not qualify as an independent director.
Additionally, John Stewart, DPS' chief financial officer, advises the board that he will not stand for re-election when his initial term expires May 19, 2009. Stewart will continue to serve as DPS' chief financial officer.
Weinstein served as president and chief operating officer of A&W Brands Inc., in the early 1990s and later as chief executive officer of Snapple Beverage Group, which was acquired by Cadbury Schweppes in 2000. During his career, he also has overseen such brands as RC Cola, Squirt, Mistic, Stewart's and Vernor's and has led global innovation and business development teams. Weinstein was named to Beverage World magazine's Hall of Fame in 2000 and received Beverage Digest's "Visionary Award" in 2004.