Primo Water names PepsiCo Exec Robert Rietbroek as new CEO
UNITED STATES – Primo Water Corporation, a US-based bottled water company, has appointed former PepsiCo executive Robbert Rietbroek as its new CEO, effective 2024.
Primo, which sells more than 1 billion gallons of water a year through brands including AquaTerra and PureFlo had been searching for a CEO since May, when CEO Tom Harrington announced his retirement effective December 31.
Rietbroek is currently the senior vice president and general manager for Quaker Foods North America, a division of PepsiCo.
He previously served as the CEO of PepsiCo Australia and New Zealand from 2015 to 2018.
Jerry Fowden, chairman of Primo Water ’s board, said: “The board’s search committee worked diligently and thoroughly throughout the CEO search process, and we are confident that Robbert is the right person to take Primo Water into its next stage of growth.
Robbert has spent the last two decades developing a unique skillset that will enable him to excel in his new role as CEO of Primo Water.”
Primo Water’s board described Rietbroek as an outstanding leader committed to excellence and a proven builder.
It expressed confidence that he will help guide Primo Water’s ongoing transformation into a leading pure-play water company in North America.
Rietbroek commented: “I am grateful for the opportunity to lead Primo Water and its talented team of associates into the future.
As CEO, I look forward to meeting the needs of our customers and supporting our dedicated associates as we deliver on our strategic priorities, and drive both long-term growth and value creation for our shareowners.”
The CEO appointment caps a busy year for Primo, which reported $2.07 billion in revenue in 2022.
In April, Los Angeles investment firm Legion Partners Asset Management LLC went public with concerns about the company’s stock and financial performance, calling for changes to the board, among other requests.
More recently, the company sold a significant part of its international operations to Culligan International for US$575 million.
