Keurig Dr Pepper (KDP) has appointed former Mondelēz International executive Tim Cofer as its new chief operating officer, with plans for Cofer to succeed current CEO Bob Gamgort in the second quarter of 2024.
Cofer, who will join KDP on 6 November, will work closely with Gamgort while in the capacity of COO. Following the transition, Gamgort will assume the role of executive chairman.
Cofer has over 30 years of multinational expertise, and currently serves as CEO of Central Garden and Pet Company.
Prior to joining Central in 2019, Cofer spent over 25 years with Mondelēz and its predecessor company, Kraft Foods. During this time, he held various executive roles with responsibility across a wide range of product categories, including coffee, chocolate and packaged food.
Gamgort said: “Tim is the ideal person to lead KDP in its next chapter. With his background as a successful public company CEO and a veteran CPG executive, Tim steps into this role with the experience and capabilities that will propel KDP’s growth journey. I’m fully committed, as is our entire ELT, to supporting Tim as he prepares to assume the CEO role. When the transition occurs, I will lead the board of directors as executive chairman.”
KDP’s lead independent director, Paul Michaels, commented: “The process the board took in evaluating KDP’s next CEO was thoughtful and comprehensive, including the consideration of internal and external candidates. We are confident that Tim’s extensive CPG experience and growth-oriented leadership will make him a very strong next CEO of KDP.”
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