April 2, 2008

Nick Lazaris of Keurig Announces Transition


Nick Lazaris with the Keurig B70 just two years ago.

Single Serve Coffee continues to evolve and change - Nick Lazaris has decided to move on from Keurig. He brought us all of the amazing single serve coffee machines that Keurig had currently shipped, bringing to both the office and home single serve coffee. We wish him well on his endevavours this year, and hopefully he'll continue to stay in the coffee world and perhaps make a new start making interesting products somewhere else.

From the Release:

Green Mountain Coffee Roasters, Inc. (together with its subsidiary, “the Company” or “GMCR”) (NASDAQ: GMCR), announced today that Nicholas Lazaris, President of Keurig, Incorporated, a wholly-owned subsidiary of GMCR, has resigned to pursue other career opportunities and has entered into a separation and transition agreement with Keurig. Under the terms of this agreement, Mr. Lazaris will continue to serve as President of Keurig until June 16, 2008 or the date on which his successor commences employment, whichever is earlier. To support a smooth transition, Mr. Lazaris will continue to be an employee of Keurig until August 15, 2008, providing assistance as needed. Following his employment, Mr. Lazaris will serve as a consultant in Keurig’s patent infringement litigation pending against Kraft. The Company has retained an executive search firm to assist it in the recruitment of a new President of Keurig.

Mr. Lazaris and the talented Keurig leadership team have made history by leading the evolution in coffee from drip brewing to single-cup brewing. Under Mr. Lazaris’ leadership, Keurig first brought its patented, innovative single-cup brewers to offices in the late 1990s and now is the single-cup market leader in offices. In recent years, Keurig also successfully entered the home market with several new models, again establishing it as the market leader in single-cup brewers. Most recently, a model was introduced for in-room brewing at hotels, further expanding Keurig’s market potential. Keurig has sold over 1.5 million single-cup brewers life-to-date in North America. In turn, these brewers have created demand for over 2.5 billion K-Cups that have been shipped by Keurig’s licensed roasters and enjoyed by gourmet coffee, tea and hot cocoa lovers nationwide.

Read the entire release...

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Posted by Jay Brewer at April 2, 2008 10:06 AM
Recent Comments

Nick Lazaris is an icon in both the business world as well as the single serve coffee industry. He not only brought the single serve coffee concept to the forefront he did it with the utmost quality in mind. Nick knew that if singe serve coffee was going to fly the coffee had to be better than you can get anywhere else. His vision, leadership and determination and of course hard work has placed single serve coffee where it is today. Whether you drink Pods, Tassimo, Keurig or any other single serve coffee out there Nick is the one person you should thank for without him single serve coffee might have gone the way of Flo-bee.... With all that being said Keruig employes very good, hard working, smart people whom all worked just as hard to see Keurig become the star that it is today. Nick would have stood for nothing less. Thank you Mr. Lazaris....

Posted by: Jim Evans at April 3, 2008 11:12 AM
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