Keurig Dr Pepper Announces Management Changes

Rhea-AI Summary

Keurig Dr Pepper Inc. (NASDAQ: KDP) has announced significant changes to its Executive Leadership Team, effective November 1, 2020. These changes aim to enhance operational efficiency and better position the company for future growth, following successful merger metrics. Key appointments include Fernando Cortes overseeing beverage concentrate manufacturing in Ireland, Ozan Dokmecioglu managing Canadian and Mexican markets, and Derek Hopkins expanding his role in cold beverage portfolio management. Jim Trebilcock and Andrew Loucks will retire at year's end, marking the end of significant tenures.

Positive

• Strategic leadership changes may enhance operational speed and market responsiveness.
• Broadened roles allow for a more focused approach in key markets and product lines.

Negative

• Retirement of experienced executives could lead to continuity and experience gaps.

BURLINGTON, Mass. and PLANO, Texas, Oct. 27, 2020 /PRNewswire/ -- Keurig Dr Pepper Inc. (NASDAQ: KDP) today announced changes to its Executive Leadership Team ("ELT") to further enhance speed-to-market and decision effectiveness.

"Two and a half years since the launch of Keurig Dr Pepper, with all key metrics delivered at or above our merger thesis, we have the unique opportunity to leverage our deep bench of executive talent to set up our management team for long term success," said Chairman and CEO Bob Gamgort.

The following executive leadership changes result in broadened operating roles and are effective on November 1, 2020:  

• Fernando Cortes, Chief Supply Chain Officer: In addition to his current supply chain responsibilities, Cortes will assume leadership and oversight for the beverage concentrate manufacturing operations under development in Ireland.
• Ozan Dokmecioglu, Chief Financial Officer & President, International: In addition to his current finance and IT responsibilities, Dokmecioglu will assume leadership for the Canadian and Mexican markets.
• Derek Hopkins, President, Cold Beverages: In his new role, Hopkins, currently Chief Commercial Officer, will assume expanded responsibility for KDP's portfolio of cold beverages, including brand marketing and innovation, all elements of KDP's broad distribution network, customer management across KDP brands and channels and all commercial functions.
• Mauricio Leyva, President, Coffee: In his new role, Leyva, currently President, International and Business Development, will lead KDP's coffee and appliance portfolios, including brewer design, engineering and supply chain, marketing and innovation for the Keurig brand and the company's portfolio of owned and licensed coffee brands, the away from home business and KDP's industry-leading e-commerce platform.
• Andrew Springate, Chief Marketing and Concentrate Officer: In addition to his responsibilities as Chief Marketing Officer, Springate will assume leadership for the beverage concentrate business, reporting to Hopkins.

   The roles of the following ELT members will remain unchanged:

• Jim Baldwin, Chief Legal Officer & General Counsel
• Mary Beth DeNooyer, Chief Human Resources Officer
• Maria Sceppaguercio, Chief Corporate Affairs Officer
• David Thomas, Chief Research & Development Officer

Jim Trebilcock, currently Chief Beverage Concentrate Officer with responsibility for the Company's independent bottling network and concentrate business, will retire at the end of this year. "Jim has been a key member of the legacy Dr Pepper Snapple organization and a valued member of our KDP management team.  I'd like to congratulate Jim on a remarkable 36-year career in the beverage industry, 33 of which were with KDP and predecessor companies, and wish him well in his retirement" stated Gamgort.

Andrew Loucks, currently President of Keurig Appliances, will be leaving the company at year-end after supporting the transition to the new organizational structure.  "I'd like to thank Andrew for his contributions to our Company and wish him much success in the future," stated Gamgort.  

Investor Contacts:
Tyson Seely
Keurig Dr Pepper
T: 781-418-3352 / tyson.seely@kdrp.com

Steve Alexander
Keurig Dr Pepper
T: 972-673-6769 / steve.alexander@kdrp.com

Media Contact:
Katie Gilroy
Keurig Dr Pepper
T: 781-418-3345 / katie.gilroy@kdrp.com 

About Keurig Dr Pepper

Keurig Dr Pepper (KDP) is a leading beverage company in North America, with annual revenue in excess of $11 billion and nearly 26,000 employees. KDP 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 is designed to satisfy virtually any consumer need, any time, and includes Keurig®, Dr Pepper®, Green Mountain Coffee Roasters®, Canada Dry®, Snapple®, Bai®, Mott's®, CORE® and The Original Donut Shop®. Through its powerful sales and distribution network, KDP can deliver its portfolio of hot and cold beverages to nearly every point of purchase for consumers.  The Company is committed to sourcing, producing and distributing its beverages responsibly through its Drink Well. Do Good. corporate responsibility platform, including efforts around circular packaging, efficient natural resource use and supply chain sustainability.  For more information, visit, www.keurigdrpepper.com.

 

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SOURCE Keurig Dr Pepper

FAQ

What management changes were announced by Keurig Dr Pepper on October 27, 2020?

On October 27, 2020, Keurig Dr Pepper announced significant changes to its Executive Leadership Team, effective November 1, 2020, including new roles for existing executives and the retirement of Jim Trebilcock and Andrew Loucks.

How will the changes in leadership impact Keurig Dr Pepper's operations?

These changes are aimed at enhancing operational efficiency and decision-making speed, allowing for a more agile response to market demands.

Who will oversee the beverage concentrate manufacturing operations in Ireland?

Fernando Cortes will assume leadership and oversight for the beverage concentrate manufacturing operations in Ireland.

What roles are being expanded at Keurig Dr Pepper?

Derek Hopkins will take on expanded responsibilities for the cold beverages portfolio, while Ozan Dokmecioglu will manage the Canadian and Mexican markets alongside his finance role.