Keurig Dr Pepper has announced a leadership transition plan, with current CFO Ozan Dokmecioglu taking over as CEO from Bob Gamgort, who will stay on as Executive Chairman for two years
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Keurig Dr Pepper's outgoing CEO Bob Gamgort will stay on as Executive Chairman for two years to ensure a smooth leadership transition | Photo credit: via Shutterstock
Keurig Dr Pepper (KDP) has announced that its current CFO, Ozan Dokmecioglu, will be the company’s next CEO. Outlining a leadership transition plan, KDP said outgoing Chairman and CEO Bob Gamgort would remain at the company as Executive Chairman for two years ensure business continuity.
As part of the transition, Gamgort has committed to remaining a significant investor in KDP, maintaining at least half of his KDP shareholdings during his tenure as Executive Chairman.
Dokmecioglu, who will become CEO effective July 29, 2022, commented: “I am honoured to assume the role of KDP CEO at this important time for our company and look to the future excited by the enormous potential that lies ahead.”
“I am excited to partner with Ozan, our leadership team and the KDP Board of Directors to drive continued growth and value creation. As we move into the next chapter for our modern beverage company, we’re establishing a leadership team that can guide the success of KDP well into the future,” Gamgort added.
The leadership transition comes as the
JAB Holding-controlled company prepares to make
$20bn of new acquisitions over the next three years amid
strong sales of its retail packaged coffee brands.
Keurig Dr Pepper was
formed in 2018 after JAB Holding Company acquired US soft drinks manufacturer and distributor, Dr Pepper Snapple, and merged it with its Keurig Green Mountain coffee business in a deal worth $18.7bn.
KDP controls a portfolio of more than 125 owned, licensed, partner and allied brands, including retail coffee products from prominent US branded chains, Krispy Kreme, Panera Bread, Cinnabon, Caribou Coffee, Tully’s Coffee and Gloria Jeans Coffee. KDP’s other retail coffee brands include Green Mountain Coffee Roasters, Van Houte and Diedrich Coffee.