Keurig Dr Pepper announces CEO succession plan

Keurig Dr Pepper has appointed Tim Cofer as Chief Operating Officer: with a planned transition to CEO in 2024.

Cofer, who will join KDP on Nov. 6, 2023, will work side by side with chairman and CEO Bob Gamgort while in a COO capacity, with a planned transition to CEO in the second quarter of 2024.  Gamgort will serve as Executive Chairman of KDP after the transition occurs. 

Cofer is a seasoned consumer packaged goods executive, with more than 30 years of multinational experience and a strong track record of driving growth, leading transformations and creating shareholder value.  He currently serves as CEO of Central Garden & Pet Company, where he has overseen a multi-year period of double-digit revenue and profit growth and a series of strategic acquisitions.

Prior to joining Central in 2019, Cofer spent more than 25 years with Mondelēz International and its predecessor company, Kraft Foods, with responsibility across a wide range of product categories, including coffee, chocolate and packaged food.

In his last position as EVP and Chief Growth Officer, he was a critical architect behind the company's successful growth strategy.

He previously led several global regions, including as President of Asia Pacific, Middle East & Africa Mondelēz International and President of Kraft Foods Europe.  In his U.S.-focused roles of President of Kraft Pizza Company and President of Oscar Mayer Foods, he oversaw manufacturing and distribution operations, including a nationwide direct store delivery network. He also led the global integration of Kraft and Cadbury, delivering on the merger's strategic and financial objectives while nurturing a combined high-performing culture.

"I'm passionate about leading great companies, building iconic brands and developing exceptional people and teams, which, when combined, generate significant shareholder value," stated Cofer. "KDP is uniquely positioned as a pure-play beverage company with powerful brand equities in attractive categories, shepherded by an incredible team. I'm honored and excited to add to its legacy."

Keurig Dr Pepper (KDP) has annual revenue of more than $14bn and approximately 28,000 employees, with a portfolio of more than 125 owned, licensed and partner brands including Keurig, Dr Pepper, Canada Dry, Green Mountain Coffee Roasters, Snapple and The Original Donut Shop.