D E Master Blenders CEO leaving after 1 year in office
The CEO of D E Master Blenders, the coffee and tea company spun off by Sara Lee Corp, will depart at the end of 2012, after just 12 months in charge. According to D E Master Blenders, the company will part ways with Michiel Herkemij by mutual consent over differences of opinion relating to the speed of implementation of strategic changes. D E Master Blenders, owner of Pickwick and Tea Forte tea brands and Senseo single-serve coffee machine, is trailing competitors like Kraft Foods and Nestlé. The outgoing CEO had hoped to catch up to the competition by implementing a strategy based on innovation and product premiumization. As a result, the company has recently revamped its Senseo single-serve coffee system with new packaging and flavors. It has also introduced a new machine that uses whole beans, aimed at the specialty coffee market.