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Breaking NewsBeverages

Cup to be CFO of CoffeeCo

October 25, 2011
October 25/Downers Grove, Ill./Business Wire -- Sara Lee Corp. appointed Michel M.G. Cup as executive vice president and chief financial officer of its International Beverage business. He will also serve as chief financial officer of CoffeeCo once it is spun-off from Sara Lee Corp. in the first half of calendar 2012. Cup will start his new duties on December 1, 2011.

Cup joins Sara Lee from Dutch-based Provimi. He currently serves as chief financial officer and board member of the company where he oversees the global finance function, including M&A, Corporate Communications, Tax, Legal, IT, Treasury, Risk and Credit Management, as well as all finance related to Procurement. Previously, he was finance director of Decorative Paint Continental Europe for AkzoNobel NV. Prior to AkzoNobel, he held multiple finance managerial positions with Royal Numico NV, a baby food company, later sold to Danone. He began his business career with Deloitte Accountants in the Netherlands.

Jan Bennink, Sara Lee Corp.'s executive chairman, said, "We are delighted to have attracted a candidate of Michel's talent and experience, and he joins CoffeeCo at an exciting time. Having worked with Michel previously, I am fully confident that his background and expertise will be significant in helping launch CoffeeCo as a successful pure-play company and one of the world's leaders in Coffee and Tea."

Cup said, "I believe the CoffeeCo business has tremendous potential, and I'm delighted to join the company at this critical time. Jan Bennink has set an ambitious vision for the company, and I'm looking forward enormously to the challenge."

 From the October 25, 2011, Prepared Foods' Daily News.

KEYWORDS: chief financials officer Sara Lee

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