Sara Lee: Names Chief Financial Officer of CoffeeCo

Downers Grove / IL. (slc) Sara Lee Corporation announced that it has 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 in the first half of calendar 2012. Cup will start his new duties on December 01, 2011.

Cup, 42, joins Sara Lee from Dutch-based Provimi, a leader in international animal nutrition. 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 leading baby food company, later sold to Danone. He began his business career with Deloitte Accountants in the Netherlands.

Jan Bennink, Sara Lee´s executive chairman: «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: «I believe the CoffeeCo business has tremendous potential and I am delighted to join the company at this critical time. Bennink has set an ambitious vision for the company and I am looking forward enormously to the challenge».