Keurig Dr Pepper Stirs Things Up: Picks Consumer Packaged Goods Veteran Tim Cofer As Next CEO

Keurig Dr Pepper Inc (NASDAQ:KDP) has appointed Tim Cofer as Chief Operating Officer, effective Nov.6, 2023, reporting to Chairman & CEO Bob Gamgort.

Cofer will assume the Chief Executive Officer role in the second quarter 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 track record of driving growth, leading transformations and creating shareholder value.

He currently serves as CEO of Central Garden & Pet Company (NASDAQ:CENT).

Prior to joining Central in 2019, Cofer spent more than 25 years with Mondelez International, Inc. (NASDAQ:MDLZ).

"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," said Bob Gamgort.

Also Read: A Refreshing Increase: Keurig Dr Pepper Bubbles Up Dividend By 7.5%

Price Action: KDP shares closed higher by 1.08% at $33.77 on Wednesday.