Keurig Dr Pepper Inc. chief executive Ozan Dokmecioglu is exiting the business due to code of conduct violations.
The company did not divulge specific information about the violations but said Dokmecioglu’s actions were “unrelated to strategy, operations or financial reporting.”
He will also step down from the company’s board of directors.
Executive chairman and former CEO Bob Gamgort has been tapped by the board to helm the company while continuing as chairman.
"Keurig Dr Pepper's code of conduct is built on a foundation of ethics, integrity and personal responsibility. Every employee, without exception, is accountable for knowing and following the Code," said Paul S. Michaels, lead director of the KDP Board, in a statement. "Bob's vision and leadership have driven KDP's success as a modern beverage company to date, and the board is grateful for his willingness to return as CEO."