Keurig Dr Pepper taps former Mondelēz exec as next CEO

Keurig Dr Pepper Inc. (KDP) has appointed Tim Cofer as chief operating officer, with a planned transition to CEO in the second quarter of 2024.

Cofer, who joins the company on Nov. 6, will report to Chairman and CEO Bob Gamgort.

Gamgort will serve as executive chairman of KDP following the transition.

Cofer brings more than 30 years of multinational CPG experience to the role. He currently serves as CEO of Central Garden & Pet Company. 

"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. 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,” Gamgort said in a statement.

Prior to joining Central in 2019, the executive spent more than 25 years with Mondelēz International and its predecessor company Kraft Foods, most recently serving as EVP and chief growth officer with responsibility across a wide range of product categories, including coffee, chocolate and packaged food. 

He previously led several global regions, with roles including president of Asia Pacific, Middle East & Africia 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, he oversaw manufacturing and distribution operations, including a nationwide direct store delivery network. He also led the global integration of Kraft and Cadbury.

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