News Briefs

Peloton has named Lauren Weinberg as its new chief marketing officer. 

Most recently SVP and chief marketing and revenue officer for QuickBooks at Intuit, Winberg will replace Leslie Berland. She’ll report to Peloton CEO Barry McCarthy and be a member of the fitness equipment manufacturer’s leadership team. 

• See also: Peloton Leverages AI-Powered Workload Prediction and Automated Resource Optimization Tech

Prior to Intuit, Weinberg led global marketing and communications as CMO for payment solution provider Square. She’s also held marketing roles at Yahoo, MTV and AOL, and she shared in a statement announcing her appointment that she’s an “active member of the Peloton community. 

"Lauren's growth-first mindset, coupled with her proven ability to deliver growth at scale will be critical assets for our revitalized brand," said McCarthy in a statement. "She thrives on understanding both the art and science of effective and impactful marketing strategies for companies, to build awareness and engagement, identify new audiences, and drive customer conversion, all ambitions key to the Peloton growth strategy." 

Keurig Dr Pepper revamped its executive leadership team as it sets the stage for its CEO transition to Tim Cofer.   

Among the changes for the No. 48 publicly owned consumer goods company, all of which are effective Nov. 6: 

Andrew Archambaul was named president, U.S. refreshment beverages. He is currently president, commercial and beverage concentrates. In his new role, he’ll lead all aspects of the business segment, including marketing, fountain foodservice, concentrate sales, and KDP's nationwide direct store delivery (DSD) network. Archambaul joined the company in 2017.

• See also: Keurig Dr Pepper’s Stake In La Colombe Brings It Into KDP DSD Fold
   

Patrick Minogue, currently SVP and general manager, coffee, was promoted to president, U.S. coffee, where he’ll be tasked with growing the single-serve coffee category. He joined the company in 2015. 

Sudhanshu Priyadarshi, CFO, will expand his role to include the position of president, international, with responsibility for Keurig Dr Pepper Canada and Grupo Penafiel, KDP's Canada and Mexico businesses, respectively.  

Monique Oxender has been named chief corporate affairs officer. She was previously SVP and chief sustainability officer. 

Mauricio Leyva, who has led KDP’s international businesses as group president, will move to an advisory role in 2024. 

All other Keurig Dr Pepper ELT members continue in their roles.

Spirits company Beam Suntory is elevating its retail media efforts via a pilot partnership that gives the company access to consumer behavior and product purchase data. 

The company is leveraging an Instacart and Trade Desk partnership to scale retail media efforts, tapping into consumer intelligence such as category-based purchase data. 

[Also read: Beam Suntory Names Hernán Tabah New SVP and Chief Digital and Technology Officer]

Beam Suntory will be able to layer these insights within their programmatic campaigns in the Trade Desk to create audience segments like:

• Consumers who purchased within their category, but not from their brand
• Consumers who purchased their brand
• Lapsed brand purchasers
• Audiences who have never purchased their brand

“As a world leader in premium spirits, Beam Suntory is driving growth through quality craftsmanship, consumer connections, and entrepreneurial spirit,” said Brittney Duncan, sr. director NA media and digital marketing, at Beam Suntory, in a statement. 

She added that retail media is an important channel in their portfolio marketing mix and the pilot will help drive performance for their brands and scale retail media efforts across their programmatic campaigns.”

Garrett Brands LLC., known for brands like Garrett Popcorn Shops and Frango Chocolate, has teamed with ToolsGroup to leverage its a suite of AI-based supply chain planning functions to help to increase growth while maintaining product freshness and customer satisfaction.

The technology will impact demand forecasting and planning, replenishment, and inventory optimization, using a built-in probabilistic forecast to understand inventory demands based on market uncertainty. Garrett Brands is expected to leverage ToolsGroup’s native AI and automation to help navigate perishability amid network expansion and the complexity of multiple channels.

The technology is also designed to help streamline operations and boost efficiency while expanding digitalization efforts to fuel organizational growth. 

Garrett Popcorn has been a renowned Chicago staple for over 70 years, with retail shops in eight countries, and Frango Chocolate has been in business for over 100 years. 

Monster Beverage intends to expand its portfolio with the acquisition of the Bang Energy business. 

Owned by the Florida-based Vital Pharmaceuticals, Bang Energy products includes energy drink brands and keto-friendly products under the Bang Energy, Meltdown, Quash, Vooz and Redline labels. The company had filed for Chapter 11 bankruptcy protection in October 2022. 

Under the terms of the agreement, Monster will acquire substantially all of Bang Energy’s assets, including a beverage production facility in Phoenix. Financial details were not shared. 

• See also: Eboost Taps Generative AI To Chat With Digital Twin Consumers

Monster Beverage grew its first-quarter sales 11.9% to $1.7 billion, it reported in its most recent earnings statement. 

The global energy drinks market size was valued at $86.35 billion in 2021 by Grand View Research, which pegged it to grow at a compound annual growth rate (CAGR) of 8.3% from 2022 to 2030. Though the category was already on the rise before the pandemic, it received a shot in the arm thanks to an increase in consumer concern for health and convenience, as well as improved product quality and diversity. 

SymphonyAI has acquired analytics, data, and decision science firm 1010data. 

SymphonyAI, a provider of digital transformation services for retailers and consumer goods companies, expects the acquisition to pay off through 1010data’s product portfolio, market presence, and brand recognition. 1010data users, meanwhile, will gain access to SymphonyAI’s analytics and AI solutions.  

“This strategic acquisition accelerates and strengthens SymphonyAI’s mission to become the leading enterprise AI SaaS company delivering value to the most critical and resilient industries. 1010data’s customers will benefit from additional depth and velocity of technology innovation as the organizations unite,” said SymphonyAI CEO Sanjay Dhawan, in a statement. “We welcome 1010data customers and are excited about the 1010data team becoming members of SymphonyAI with the opportunity to excel, building on 1010data’s proven strengths and leveraging SymphonyAI’s predictive and generative AI technology.” 

Terms of the deal weren’t disclosed. Interim 1010data CEO Nomi Bergman will step down from her role as part of the acquisition.

• See also: Gartner’s 8 Key Areas of Growth