Keurig Dr Pepper names Ozan Dokmecioglu as CEO as profit hunt intensifies

US – American multinational soft drink company, Keurig Dr Pepper (KDP), has made some changes to its leadership, naming Ozan Dokmecioglu as the Chief Executive Officer (CEO), effective July 29, 2022.

Dokmecioglu will succeed Bob Gamgort, current chairman and CEO, who announced his stepping down as CEO in April 2022.

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Prior to Mr. Dokmecioglu’s promotion, he was a chief financial officer of the Texas-based multinational company.

In addition, Derek Hopkins, president of cold beverages, is also leaving the company at the end of the year.

The company has decided to split his role into two positions, president of the commercial and president of cold beverages.

In that line, Andrew Archambault, who currently serves as chief customer officer, has been promoted to the president of commercial role, effective Aug. 1, while a search is underway for a new president of cold beverages.

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Mauricio Leyva, who joined the company in 2020 and currently is president of coffee, has been promoted to the role of group president, on August. 1.

In the new role, Mr. Leyva will continue to lead coffee and assigned the responsibility for the international businesses previously led by Mr. Dokmecioglu, as well as the continued development of KDP’s digitization efforts.

Meanwhile, the soft drink giant said once a replacement of its chief research and development officer is complete and named, David Thomas will be retiring from the company.

The search for a replacement has extended to George Lagoudakis, who currently is senior vice president of finance for cold beverages but will still fill the role on an interim basis.

Dokmecioglu stated: “I want to thank Derek for his strong partnership and the significant value he helped to create at KGM and KDP. I’d also like to thank David for his significant contributions to KDP and our predecessor companies over the past 16 years and his plan to remain with KDP to transition to his successor

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Finally, I’d like to congratulate Mauricio on his expanded role and Andrew and George on their new roles.  I also want to express my gratitude to the entire KDP Executive Leadership Team for their strong support.”

Keurig Dr Pepper partners Intelligentsia to drive growth in coffee pod market

Meanwhile, Keurig is turning to more premium products and hip brands like Intelligentsia to attract new customers at a time when the coffee pod market is showing signs of slowing growth.

Coffee brand Intelligentsia, known for its single-origin beans, hip coffee shops, and direct trade sourcing, announced a partnership with its corporate peer Keurig Dr. Pepper to launch in K-Cups.

For Intelligentsia, the move comes after earlier single-serve success and increasing demand for at-home coffee.

And for Keurig, a higher-end offering like Intelligentsia is a way to capture new sales in a market that’s beginning to plateau.

 Keurig reported that net sales of coffee systems in the first quarter dropped 4.3%, though they’re still up 12% versus two years after a pandemic-era surge.

In addition to the Intelligentsia line, Keurig is releasing more expensive machines meant to offer a more flavorful beverage with additional water streams, and offering custom designs on coffee makers.

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