Primo Water Corporation (NYSE: PRMW) (TSX: PRMW), a provider of drinking water in North America and Europe, has announced the appointment of Robbert Rietbroek as the Chief Executive Officer and a new addition to the Board of Directors, effective January 1, 2024. This appointment follows Tom Harrington’s decision to retire, leading to an extensive CEO search by the Board to appoint a skilled leader.
Rietbroek brings over 25 years of executive experience. He served as Senior Vice President and General Manager of Quaker Foods North America (QFNA), a segment of PepsiCo, for five years. Previously, Rietbroek held leadership roles at PepsiCo Australia and New Zealand and played pivotal roles at Kimberly-Clark, overseeing Australia, New Zealand, Pacific Islands and leading the Global Sector for Baby and Child Care. Earlier in his career, he spent nearly 16 years at Procter & Gamble, handling various management and marketing positions across regions globally, earning recognition for outstanding brand building and innovation.
In conjunction with his appointment, Rietbroek will receive an inducement equity award upon commencing his employment. The Board approved a grant of restricted share units (RSUs) worth $3.5 million, subject to vesting conditions and aligned with the company’s existing equity incentive plans.
Jerry Fowden, Chairman of the Board, expressed gratitude for Tom Harrington’s contributions and stated the Board’s confidence in Rietbroek’s leadership capabilities to steer Primo Water’s growth. Fowden praised Rietbroek’s exceptional leadership qualities and track record in driving high-performance teams, anticipating his impact on the company’s future. The Board aims to collaborate with Rietbroek to guide Primo Water’s transformation into a prominent water solutions provider in North America.
Expressing enthusiasm for his new role, Rietbroek affirmed his commitment to meeting customer needs and supporting the company’s strategic priorities to foster long-term growth and value creation for stakeholders. He highlighted the significance of providing hydration solutions for healthier lives, communities, and a sustainable planet.
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