USA – Keurig Dr Pepper, an American multinational coffee, water, and soda maker based in Plano, Texas, has named Tim Cofer as its chief operating Officer (COO) starting November 6, 2023, before transitioning to CEO in the second quarter of 2024.
Cofer will succeed current CEO Bob Gamgort who is anticipated to move into the new position of executive chairman in the second quarter of 2024.
As Chief Commercial Officer, Cofer will have time to become accustomed to the company during the transition phase.
“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,” Gamgort said.
An earlier attempt to find a successor to Gamgort failed after the potential successor Ozan Dokmecioglu resigned four months after appointment “due to violations of the company’s code of conduct.”
Tim Cofer, a former Mondelēz executive Vice president, and chief growth officer brings onboard a quarter-century experience with a deep understanding of the food and beverage industry as well as evolving consumer trends.
In his previous role, Confer is recognized for championing successful growth strategy at Mondelēz and is set to handle similar responsibilities at Keurig Dr Pepper.
“I’m passionate about leading great companies, building iconic brands, and developing exceptional people and teams,” Cofer said while accepting the appointment.
Gamgort became CEO of Keurig Dr Pepper in 2018 after Keurig Green Mountain, the coffee company, where he held a CEO since 2016 merged with Dr Pepper Snapple Group which at the time was a leading producer of flavored beverages in North America and the Caribbean.
Gamgort is known to have been instrumental in integrating the two companies and growing sales. In 2022, Keurig Dr Pepper posted sales of US$14.1 billion compared to US$11.1 billion in 2019, which was the first full year of the combined company.
His main strategies have been investing in, striking distribution partnerships with, or buying beverage brands in trendy areas that complement the company’s existing portfolio including Snapple, 7-Up, and Canada Dry.
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