Keurig Dr Pepper Appoints Ex-Mondelēz Exec as CEO

Keurig Dr Pepper Inc. has just announced the appointment of Tim Cofer as chief operating officer. He will begin at the company on Nov. 6, 2023, with a planned transition to CEO in the second quarter of 2024. 

Cofer will report to chairman & CEO Bob Gamgort, who will serve as executive chairman after the transition occurs. This move is a key step in the company's CEO succession plan and Cofer will work side by side with Gamgort while in the COO capacity.

"I'm passionate about leading great companies, building iconic brands and developing exceptional people and teams, which, when combined, generate significant shareholder value," said Cofer. "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."

Cofer is a seasoned 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. He currently serves as CEO of Central Garden & Pet Company, where he 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.

In his last position as EVP and Chief Growth Officer, he was critical to the company's successful growth strategy. He previously led several global regions, including as president of Asia Pacific, Middle East & Africa - Mondelēz International and president of Kraft Foods Europe.

In his US-focused roles of president of Kraft Pizza Co. and president of Oscar Mayer Foods, he oversaw manufacturing and distribution operations, including a nationwide direct store delivery network. He also led the global integration of Kraft and Cadbury, delivering on the merger's strategic and financial objectives while nurturing a combined high-performing culture.

Cofer will help drive the company's strategic growth agenda and oversee operations with Gamgort as part of Keurig Dr Pepper's transition plan. Collaborating with KDP's Executive Leadership Team (ELT), he will play a significant leadership role in each of the company's business segments.   

"Tim is the ideal person to lead KDP in its next chapter.  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 Gamgort. "I'm fully committed, as is our entire ELT, to supporting Tim as he prepares to assume the CEO role. When the transition occurs, I will lead the Board of Directors as executive chairman."