Keurig Dr Pepper Inc. named main financial officer Ozan Dokmecioglu to lead the espresso and comfortable beverages enterprise setting up in July.
Dokmecioglu will replace chief govt officer Bob Gamgort, who has agreed to stay on in his function as government chairman for two a long time, the Burlington, Mass.-dependent business explained Tuesday, confirming a report by Bloomberg News.
“Ozan and I have worked aspect by side for the earlier six a long time,” Gamgort claimed in an emailed assertion. “He is an exceptionally strong leader and has been a vital architect of every strategic conclusion at KDP in the course of that time.”
Dokmecioglu, 50, will be the next CEO of the 4-year-previous business, which was formed by investment decision business JAB through the merger of Keurig Green Mountain and Dr Pepper Snapple Group. Dokmecioglu also has been working Keurig Dr Pepper’s worldwide business, which accounts for a lot more than a tenth of the group’s earnings. He joined Keurig in 2016 soon after operating in senior finance roles at Kellogg Co. and Kraft Meals.
Beneath Gamgort, 59, Keurig Dr Pepper’s sector benefit has developed by about 3-quarters to $54 billion given that the merger. He also moved the company’s listing to the Nasdaq stock trade in 2020 as section of a series of steps created to diversify its shareholder foundation.
The shares fell .7% to $38.11 in early buying and selling Tuesday.
Gamgort’s key emphasis for the duration of the next two several years will be on facilitating the transition as perfectly as scoping out likely acquisitions to increase shareholder returns.
JAB controls about a third of Keurig Dr Pepper, down from just underneath fifty percent in current years, acquiring redistributed shares to traders in its own cash.
Keurig Dr Pepper has initiated a lookup for its future CFO to change Dokmecioglu, the business reported.
Thomas Buckley, Bloomberg