Reuters reports that gum maker Wm. Wrigley Jr. Co. named a non-Wrigley as president and chief executive officer for the first time in the company's history, surprising investors and sending stock prices up. The new man at the helm is former Nike Inc. CEO William Perez. "I feel like the chewing gum industry and footwear business share a common sole," Perez told business reporters after the announcement. "We've stuck together through thick and thin and scraped by as needed."
According to industry insiders, Perez' compensation package includes use of the nickname "Big Red" at company functions as well as custody of the Doublemint twins.