PLANO, Texas (AP) -- Beverage maker Dr Pepper Snapple Group Inc. has named Martin M. Ellen as its chief financial officer as he steps down from the same role at the tool and software maker Snap-on Inc.
Ellen, who also served as senior vice president of finance at Snap-On, was also appointed executive vice president for Dr Pepper Snapple.
He succeeeds John Stewart, who previously announced he would retire at the end of March.
Ellen, 56, will join Dr. Pepper Snapple on April 1, where he will be in charge of the company's finance and information technology groups. He will report to President and CEO Larry Young.
In the meantime, Ellen will remain at Snap-on until March 31. He will be succeeded by Aldo J. Pagliari, 55, who currently serves as Snap-on's president of equipment.
The moves were announced late Monday.