August 7, 2022

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Keurig Dr Pepper creates CEO succession, promoting finance chief to top spot

Keurig Dr Pepper Inc. named chief fiscal officer Ozan Dokmecioglu to lead the espresso and comfortable beverages firm starting in July.

Dokmecioglu will switch chief government officer Bob Gamgort, who has agreed to continue to be on in his job as govt chairman for two yrs, the Burlington, Mass.-primarily based organization mentioned Tuesday, confirming a report by Bloomberg Information.

“Ozan and I have worked aspect by facet for the earlier 6 many years,” Gamgort said in an emailed assertion. “He is an exceptionally strong chief and has been a important architect of every strategic determination at KDP through that time.”

Dokmecioglu, 50, will be the next CEO of the 4-yr-previous enterprise, which was shaped by financial commitment company JAB through the merger of Keurig Green Mountain and Dr Pepper Snapple Team. Dokmecioglu also has been functioning Keurig Dr Pepper’s intercontinental enterprise, which accounts for more than a tenth of the group’s income. He joined Keurig in 2016 right after doing the job in senior finance roles at Kellogg Co. and Kraft Foods.

Below Gamgort, 59, Keurig Dr Pepper’s market price has developed by about a few-quarters to $54 billion given that the merger. He also moved the company’s listing to the Nasdaq stock exchange in 2020 as aspect of a sequence of actions created to diversify its shareholder base.

The shares fell .7% to $38.11 in early investing Tuesday.

Gamgort’s vital concentration during the up coming two several years will be on facilitating the transition as very well as scoping out probable acquisitions to boost shareholder returns.

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JAB controls about a 3rd of Keurig Dr Pepper, down from just below fifty percent in latest a long time, owning redistributed shares to traders in its individual funds.

Keurig Dr Pepper has initiated a research for its up coming CFO to switch Dokmecioglu, the corporation stated.

Thomas Buckley, Bloomberg