Moore, currently Head of Coffee, will assume interim leadership responsibilities from October 2023, with outgoing CEO Deverl Maserang assisting with the transition
John Moore joined Farmer Bros in July 2023 as Head of Coffee
Farmer Bros has announced an upcoming change in management with current CEO Deverl Maserang set to step down on 30 September 2023.
The Texas-based coffee roaster and distributor said Head of Coffee, John Moore, will assume the role of Interim CEO from October 2023.
Maserang will remain a board member to ensure an ‘orderly transition’ as Farmer Bros moves forward with a commitment to ‘right-sizing its operating cost structure to better align with the current size of the company’.
In June 2023, Farmer Bros agreed to sell its direct shipping business, which transports coffee and other products to a retailer’s warehouse or distribution centre, to TreeHouse Foods for approximately $100m.
The coffee roaster said the move, which also included the sale of its Texas coffee roasting facility, will enable the business to focus on the more profitable direct store delivery (DSD) channel.
“As we move forward with our full focus on our direct store delivery business, we will be bringing on a new generation of leadership to drive the company toward profitable growth and value creation,” said Alfred Poe, Chairman of the Board, Farmer Bros.
The planned transition is not connected to any disagreements or concerns with the company’s operations, policies or practices, Farmer Bros added.
The move comes a month after the business announced a transition of its Chief Financial Officer role. Outgoing CFO Scott Drake, who will also leave the business at the start of October 2023, is currently assisting with the transition, including approving Farmer Bros’ full-year 2023 results and 2024 budget planning.
The coffee roaster and distributor achieved net sales of $469.2m in 2022.