Kim Jeffery, president and CEO of Nestle Waters North America Inc., will step down Feb. 1, 2013, following a distinguished career with the Stamford beverage company.
The long-time chief executive will be replaced by Tim Brown, the current president and CEO of Nestle Canada, with Jeffery assuming a role as non-executive chairman.
Jeffery joined Nestle in 1978 as central division sales manager, and in 1992 was named CEO. During his tenure, Nestle Waters North America revenues grew from $650 million to $4.4 billion in 2011.
Brown, who has served in his current role with Nestle Canada since 2010, previously spent 22 years at Nestle Waters North America.
“I am excited to continue to build on the legacy achieved by Kim Jeffery,” Brown said in a prepared statement. “Kim led the company from a single brand to the largest bottled water company in North America, while emphasizing environmental responsibility and cultivating the very best corporate culture in the food and beverage business.”