LUXEMBURG – JAB Holding Company, a German Conglomerate that owns Keurig Dr Pepper and JDE Peet’s, has announced the appointment of Joachim Creus as new CEO to succeed Olivier Goudet. 

Olivier Goudet has been the managing partner and CEO of the group since 2012. Upon succession, he will remain closely involved with the group’s ecosystem as a senior investment advisor. 

Goudet is credited with tripling the investment firm’s equity during his tenure and introducing JAB’s coffee and beverage strategy, resulting in the creation of JDE Peet’s and Keurig Dr Pepper. 

“Under Olivier’s leadership, we scaled JAB with the right assets, building a diverse and highly resilient investment portfolio which is ideally positioned to continue to deliver attractive risk-adjusted returns over the long term,” Creus said. 

His successor, Creus joined the company in 2010 and has worked with Goudet and Harf to drive major investments and expansion initiatives in the company. 

Creus will continue as vice chairman of the JAB board of directors and will also take over from Peter Harf as chairman. 

JAB’s investments span industries including consumer goods, forestry, coffee, luxury fashion, animal health and fast food. 

The group announced assets worth US$53.21bn during its half year results to 30 June 2023. 

During the half-year, the group shrinked its coffee and beverage investment by US$1.99bn to US$19.86bn in the six months to 30 June, compared to US$19.86bn in the six months to 31 December. 

Tim Cofer named KDP Chief Operating Officer 

Meanwhile, its subsidiary, US-based beverage company Keurig Dr Pepper (KDP) has unveiled its succession plan where Chief Operating Officer Tim Cofer is succeed Bob Gamgort as CEO. 

Tim Cofer will work side-by-side with CEO Bob Gamgort before transitioning to CEO in the second quarter of 2024. 

Cofer formely served as CEO of Central Garden & Pet Company, where he is reported to have overseen a multi-year period of double-digit revenue and profit growth and a series of strategic acquisitions. 

KDP’s succession plan provides for a robust transition period, during which Cofer will help drive the Company’s strategic growth agenda and oversee operations with Gamgort.  

Collaborating with KDP’s Executive Leadership Team (ELT), Cofer will play a significant leadership role in each of the Company’s business segments.