Primo Water Corp appointed Matt Sheehan as the new chief executive officer, effective May 31, according to a filing with the Securities and Exchange Commission.
Billy Prim will transition from the company’s chief executive officer to the executive chairman of the board of directors.
Sheehan, 43, is the company’s current president and chief operating officer. He has served as the chief operating officer since 2010 and as president since 2013.
He will remain president of Primo Water after the executive succession is complete.
Prior to Primo Water, Sheehan was with Coinstar Inc., where he served as strategic venture advisor of Coinstar’s Redbox business from June 2011 to December 2011 and as vice president, general manager of the first automated retail venture at Redbox from 2008 until 2011.
Sheehan also served at Redbox as vice president, sales and business development from 2006 to 2008 and director of business development from 2005 to 2006. Redbox was acquired by Coinstar in 2008.
“I am very excited about where the company is positioned today and believe Matt is the best person to oversee the next stage of growth for Primo,” said Prim in a statement.
“First, I’m both humbled and excited by the opportunity to further lead this business, for which I have a deep amount of passion,” said Sheehan in a statement.
Company stock closed Friday at $11.97 per share, up 7 cents, or 0.59 percent.