“Peet’s Coffee at Xintiandi, Shanghai” by Juan Antonio Segal is licensed under the Creative Commons Attribution 2.0 Generic license.
Effective Tuesday, Nov. 17, Eric Lauterbach stepped down as president and CEO of California-based Peet’s Coffee after more than 15 years with the company. Consumer products veteran Stuart Heflin is succeeding Lauterbach as president.
In a LinkedIn announcement of the transition, the company did not name a CEO but said it is “deeply grateful to Eric for his leadership, candor and unwavering commitment that have been instrumental in shaping Peet’s success.”
The leadership change comes amid broader company shifts, including a new direction for Peet’s U.S. business outlined in July and the planned acquisition of parent company JDE Peet’s by Keurig Dr Pepper in an approximately $18 billion deal.
In a LinkedIn post, Lauterbach reflected on joining Peet’s after a recruiter’s call more than 15 years ago. He took over as president and CEO in 2021.
“During my time at Peet’s, we transitioned from public company to private with our acquisition by JAB and back to public with the formation of JDEP,” Lauterbach wrote. “Our passion for great coffee was the one constant, and I’m confident that won’t change.”
Heflin joins Peet’s with more than 20 years of experience leading global consumer brands, according to the company. He most recently served as senior vice president and general manager for Quest Nutrition, a Simply Good Foods brand of snacks and RTD shakes. He has also held brand-management roles at Procter & Gamble.
A profile on the Peet’s website says Heflin will be “responsible for all of Peet’s domestic and global businesses, including Stumptown Coffee, Intelligentsia Coffee and Peet’s China.”
According to recent Peet’s franchise materials, the brand operates roughly 200 to 250 company-owned locations in the U.S., along with more than 200 licensed locations across China, the United Arab Emirates and Saudi Arabia.
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