Tim Cofer To Move Into CEO Role at Keurig Dr Pepper
Tim Cofer will assume the CEO role at Keurig Dr Pepper next year as part of a planned succession to KDP CEO Bob Gamgort.
Cofer, who has spent the last four years as CEO of Central Garden & Pet, will join the No. 49 publicly owned consumer goods company Nov. 6 as its chief operating officer. He’ll step into the CEO shoes in the second quarter of 2024, as Gamgort moves into the executive chairman role.
Cofer brings deep CPG industry experience to the role, having served in a range of leadership roles in Mondelēz International and Kraft Foods prior to Central Garden & Pet. During his tenure as executive VP and chief growth officer at Mondelēz, he led a number of regions, and he served as president of Asia Pacific, Middle East and Africa Mondelēz and president of Kraft Foods Europe.
His past experience as president of Kraft Pizza Company and president of Oscar Mayer Foods in the United States is especially relevant for his new KDP home, having included oversight of Kraft’s manufacturing and distribution operations, including its nationwide direct store delivery (DSD) network. He also led the global integration of Kraft and Cadbury.
In a statement, Gamgort touted Cofer as the ideal person to lead Keurig Dr Pepper 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,” he noted.
Indeed, KDP has been riding high thanks to Gamgort, with the food and beverage company reporting net sales growth of 10.8% to $14.06 billion in 2022. Its most recent quarter, reported in July, reported net sales up 6.6% year over year to $3.79 billion.
Cofer expressed excitement for his new role in a post on his LinkedIn account. “This is a tremendous opportunity at an extraordinary beverage company with a portfolio purposely built to satisfy every consumer need, anytime and anywhere,” he wrote. “I’m proud to join KDP as it enters its next phase of growth and continues to make a positive impact with every drink.”
