Mars Inc has replaced Wm Wrigley Jr Co’s CEO, William Perez, just two weeks after it completed its US$23 billion acquisition of the Chicago-based gum company.
Perez was the first non-Wrigley family member to lead the firm as President and Chief Executive and will continue to support the company in an “advisory capacity” through the end of the year, according to a statement from Mars.
Dushan “Duke” Petrovich has been appointed President, effective immediately, having been with Wrigley for over 30 years. He will not have the title of Chief Executive but, like Perez, he will report directly to Paul Michaels.
In his position, Petrovich will be responsible for the company’s worldwide strategy, operations and business performance.
Commenting on the appointment, Michaels said: “The combination of Duke’s deep-seated understanding of Wrigley’s operations, respect among the company’s associates and financial expertise makes him the ideal person to connect Wrigley into the Mars organization and build future growth for the business.”