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updated: 8/27/2013 12:12 PM

Mondelez's Asia region chief to retire

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Pradeep Pant, 59, executive vice president and president of Mondelez International's Asia Pacific and Eastern Europe, Middle East & Africa region, will retire at the end of the year, the company said today.

Deerfield-based Mondelez named Timothy P. Cofer, 44, executive vice president of its Europe region, as Pant's replacement, and Hubert Weber, 51, president of Coffee in Europe and leader of the company's Global Coffee Category Team, as Cofer's successor.

"Pradeep has led the turnaround and dynamic growth of the company's business in Asia Pacific since 2008," said Chairman and CEO Irene Rosenfeld. "During his tenure, Pradeep and his team more than doubled revenue in Asia Pacific through organic growth, while also integrating two large businesses and significantly improving profitability. We sincerely thank Pradeep for his contributions to the business and wish him well in retirement."

Cofer has led the company's Europe business since 2011, a $14 billion region that spans 33 countries. Under his guidance, the European business has outperformed peers, delivering 14 consecutive quarters of growth while also significantly improving margins, despite the region's worst recession in decades, the company said.

Prior to that, Cofer served as senior vice president, Global Chocolate Category Team. He was also senior vice president, strategy and integration, and led the successful integration of Cadbury in 2010. Cofer earned his MBA from the University of Minnesota and his bachelor's degree in economics and political science from St. Olaf College.

Cofer will begin his new role in mid-September, relocating from Zurich, Switzerland, to Singapore. He will continue to report to Rosenfeld and remain on the Mondelez Leadership Team.

Since 2010, Weber has overseen the shift of the company's $3 billion European coffee category from a declining roast-and-ground business to a portfolio that's now centered on value-added on-demand products, such as Tassimo and Millicano, which have delivered annual growth of more than 25 percent since 2010.

Prior to his current role, Weber was president, Germany, Austria and Switzerland from 2008-2010, which he transformed from a slow-growth, low-margin operation to one with superior growth and profitability. As president, Iberia from 2007-2008, he made tough business decisions to restructure operations, including four divestitures and the integration of two acquisitions, while delivering solid growth. Weber earned his MBA and bachelor's degree in business administration from the University of Stuttgart-Hohenheim in Germany.

Weber will be based in Zurich and transition into his new role in mid-September. He will report to Rosenfeld and become a member of the Mondelez Leadership Team.

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