STAMFORD, CONN. (Nov. 16, 12:50 p.m. ET) — Nestle Waters North America Inc. President and CEO Kim Jeffery — who has been the driving force in the company's effort to improve PET recycling rates, incorporate recycled content into its water bottles, and advocate for extended producer responsibility — is stepping down Feb. 1 to assume a non-executive chairman position with the company.
The 64-year-old Jeffery has been with the company for 34 years, and has been president and CEO the past 20 years, Nestle said in the Nov. 15 announcement.
Tim Brown, president and CEO of Nestle Canada since 2010, will become president and CEO of Nestle Waters North America Inc.
Brown, 49, has worked for Nestle for nearly 25 years. He previously headed Nestle Waters North America's retail operations as executive vice president and general manager.
“I am excited to continue to build on the legacy achieved by Kim Jeffery,” Brown said in the news release. “Kim led the company from a single brand to the largest bottled water company in North America, while emphasizing environmental responsibility.”
Under Jeffery's leadership, NWNA grew from $650 million in revenues in 1992 to $4.4 billion in 2011. It now has seven of the top 10 U.S. water brands including Poland Spring, Arrowhead, Deer Park, Ice Mountain, Ozarka, Zephyrhills and Nestle Pure Life.
“My connection to the business and its people will endure,” Jeffery said. “The business success and strong values-based culture we built as a team transcends any individual. I know [Tim] is committed to building on this strong foundation as he leads the organization to continued growth and success.”