Keurig Dr Pepper Inc. named chief money officer Ozan Dokmecioglu to guide the espresso and delicate beverages organization starting in July.
Dokmecioglu will replace chief government officer Bob Gamgort, who has agreed to stay on in his role as government chairman for two several years, the Burlington, Mass.-primarily based organization explained Tuesday, confirming a report by Bloomberg Information.
“Ozan and I have labored aspect by side for the past six several years,” Gamgort reported in an emailed assertion. “He is an exceptionally potent leader and has been a crucial architect of each and every strategic decision at KDP during that time.”
Dokmecioglu, 50, will be the second CEO of the 4-year-aged company, which was shaped by financial commitment business JAB through the merger of Keurig Green Mountain and Dr Pepper Snapple Team. Dokmecioglu also has been functioning Keurig Dr Pepper’s intercontinental organization, which accounts for a lot more than a tenth of the group’s earnings. He joined Keurig in 2016 after performing in senior finance roles at Kellogg Co. and Kraft Foods.
Below Gamgort, 59, Keurig Dr Pepper’s market worth has grown by about three-quarters to $54 billion because the merger. He also moved the company’s listing to the Nasdaq inventory exchange in 2020 as section of a sequence of steps built to diversify its shareholder foundation.
The shares fell .7% to $38.11 in early trading Tuesday.
Gamgort’s essential focus during the future two yrs will be on facilitating the changeover as very well as scoping out likely acquisitions to boost shareholder returns.
JAB controls about a third of Keurig Dr Pepper, down from just underneath 50 percent in the latest a long time, having redistributed shares to buyers in its own cash.
Keurig Dr Pepper has initiated a look for for its up coming CFO to replace Dokmecioglu, the enterprise explained.
Thomas Buckley, Bloomberg