Sara Lee Names CEO of CoffeeCo

Sara Lee Corp. has named Michiel Herkemij as CEO of CoffeeCo, the beverage business that will split from the food maker next year. CoffeeCo is the name that is being used for now for Sara Lee's planned spinoff that will house its international bakery and beverage businesses. Sara Lee will keep its name and concentrate on its North American retail and food service businesses.

 

Sara Lee announced its plans to separate into two companies in January. Herkemij was also appointed executive vice president and CEO of Sara Lee's international beverage unit. Herkemij succeeds Frank van Oers, who has led Sara Lee's international beverage and bakery operations since 2005. Van Oers will depart Sara Lee early next year.

 

Herkemij will take on the role no later than Dec. 1, 2011. He is currently president and CEO of beer maker Cuauhtemoc Moctezuma, which was acquired by Heineken N.V. last year.

 

Sara Lee, whose brands include Ball Park, Senseo, Jimmy Dean, its namesake and others, reported earlier this month that its fourth-quarter income fell 41 percent as it sold off businesses while some customers were scared off by higher prices.

 

Sara Lee, which is based in Downers Grove, Ill., also announced this month that it is selling its North American refrigerated dough business to Ralcorp for $545 million. The company disclosed at that time that it has potential bidders for its international bakery business and hopes to make an announcement soon.