Keurig Dr Pepper Inc.(KDP) today announced the resignation of Ozan Dokmecioglu as Chief Executive Officer and a member of the KDP Board of Directors. Dokmecioglu has held this position for less than 4 months. He agreed to resign due to unspecified violations of the Company's Code of Conduct that were unrelated to strategy, operations or financial reporting.
Bob Gamgort, the Company's current Executive Chairman and former CEO, was reappointed by the Board to the role of CEO, in addition to 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. "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."
"KDP has a deep and talented executive team" said Gamgort. "I look forward to continuing to work with the leadership team and the Board in the role I held less than four months ago."
KDP is a leading beverage company in North America, with annual revenue approaching USD 13 billion and approximately 27,000 employees. The company holds leadership positions in soft drinks, specialty coffee and tea, water, juice and juice drinks and mixers, and markets the #1 single serve coffee brewing system in the U.S. and Canada. The Company's portfolio of more than 125 owned, licensed and partner brands includes Keurig®, Dr Pepper®,Green Mountain Coffee Roasters®, Canada Dry®,Snapple®, Bai®, Mott's®, CORE® and The Original Donut Shop®.
Yesterday, the company announced to invest USD 50 million in the largest non-alcoholic craft brewer in the US, Athletic Brewing Company. (inside.beer, 9.11.2022)