Keurig Dr Pepper Inc. announced the appointment of Tim Cofer as chief operating officer, reporting to Chairman & CEO Bob Gamgort, as a key step in the company's CEO succession plan. Cofer, who will join KDP on Nov. 6, 2023, will work side by side with Gamgort while in a COO capacity, with a planned transition to CEO in the second quarter of 2024. Gamgort will serve as Executive Chairman of KDP after the transition occurs.
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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 a critical architect behind 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 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, delivering on the merger's strategic and financial objectives while nurturing a combined high-performing culture.
KDP's succession plan provides for a robust transition period, during which Cofer will help drive the company's strategic growth agenda and oversee operations with Gamgort. Collaborating with KDP's Executive Leadership Team (ELT), Cofer will play a significant leadership role in each of the Company's business segments.
