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

Keurig Dr Pepper Inc. named main money officer Ozan Dokmecioglu to lead the espresso and gentle drinks business commencing in July.

Dokmecioglu will change main government officer Bob Gamgort, who has agreed to keep on in his purpose as executive chairman for two many years, the Burlington, Mass.-based firm mentioned Tuesday, confirming a report by Bloomberg Information.

“Ozan and I have worked aspect by aspect for the earlier 6 years,” Gamgort claimed in an emailed statement. “He is an extremely sturdy leader and has been a key architect of each individual strategic final decision at KDP during that time.”

Dokmecioglu, 50, will be the second CEO of the 4-calendar year-aged business, which was fashioned by financial investment business JAB by way of the merger of Keurig Inexperienced Mountain and Dr Pepper Snapple Team. Dokmecioglu also has been managing Keurig Dr Pepper’s international enterprise, which accounts for much more than a tenth of the group’s income. He joined Keurig in 2016 after operating in senior finance roles at Kellogg Co. and Kraft Foodstuff.

Beneath Gamgort, 59, Keurig Dr Pepper’s current market benefit has grown by about a few-quarters to $54 billion since the merger. He also moved the company’s listing to the Nasdaq stock exchange in 2020 as element of a series of steps designed to diversify its shareholder foundation.

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

Gamgort’s vital focus through the future two years will be on facilitating the changeover as perfectly as scoping out probable acquisitions to improve shareholder returns.

JAB controls about a third of Keurig Dr Pepper, down from just underneath 50 % in new several years, acquiring redistributed shares to investors in its possess money.

Keurig Dr Pepper has initiated a lookup for its next CFO to switch Dokmecioglu, the business said.

Thomas Buckley, Bloomberg