Keurig Dr Pepper announced a leadership transition plan whereby CFO Ozan Dokmecioglu will become CEO effective July 29, 2022.
Bob Gamgort, currently chairman and CEO, will serve as executive chairman of Keurig Dr Pepper (KDP) for two years. Dokmecioglu will also join the company’s board of directors.
The leadership transition follows the completion of KDP’s three-year merger integration period, according to Keurig Dr. Pepper. Gamgort and Dokmecioglu will work in close partnership, as they have since the take-private transaction of Keurig Green Mountain in 2016 and subsequent merger with the Dr Pepper Snapple Group, collaborating on driving the strategic direction and maximizing the value creation potential of KDP, according to the company. The company said a process to select a CFO to succeed Dokmecioglu is underway.
“I am excited to partner with Ozan, our leadership team and the KDP Board of Directors to drive continued growth and value creation,” said Gamgort, who has committed to maintaining at least half of his KDP shareholdings during his tenure as executive chairman.
Dokmecioglu said, “I am grateful for the ongoing partnership with Bob and the support of our board of directors and leadership team, as we continue to work together to drive outsized value creation,” he added.
KDP lead lndependent director Paul Michaels added, “Ozan is an exceptionally strong leader with the skills, experience, values and perspective to lead KDP into the future. We are also fortunate to have Bob in a position to continue working closely with Ozan and the leadership team over the next few years.”
