Keurig Dr Pepper Inc. announced the appointment of Tim Cofer as COO in a plan for Cofer to succeed Bob Gamgort as company CEO during the second quarter of 2024.
Cofer is slated to join Keurig Dr Pepper (KDP) November 6 and work with Gamgort, the current chairman and CEO who is become executive chairman after the chief executive transition.
Cofer is a veteran consumer packaged goods executive with more than 30 years of multinational experience and a strong track record of driving growth, leading transformations and creating shareholder value, according to KDP. He currently serves as CEO of Central Garden & Pet Company, for which has overseen a multi-year period of double-digit revenue and profit growth and a series of strategic acquisitions.
Prior to joining Central in 2019, Cofer spent more than 25 years with Mondelēz International and its predecessor company, Kraft Foods, with responsibility across a wide range of product categories, including coffee, chocolate and packaged food. For Mondelēz, he ascended to executive vice president and chief growth officer after leading several global regions, including as president of Asia Pacific, Middle East and Africa for Mondelēz International and president of Kraft Foods Europe.
In his U.S.-focused roles of president of Kraft Pizza Company and president of Oscar Mayer Foods, Cofer oversaw manufacturing and distribution operations, including a nationwide direct store delivery network. He also led the global integration of Kraft and Cadbury.
Cofer during the CEO transition period at KDP, will help drive the company’s strategic growth agenda and oversee operations with Gamgort. He will work KDP’s executive leadership team in each of the Company’s business segments.
“Tim is the ideal person to lead KDP in its next chapter,” Gamgort said. “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.”
Said Cofer: “I’m passionate about leading great companies, building iconic brands and developing exceptional people and teams, which, when combined, generate significant shareholder value. KDP is uniquely positioned as a pure-play beverage company with powerful brand equities in attractive categories, shepherded by an incredible team. I’m honored and excited to add to its legacy.”
