- Push-out Score determined
- After about four years in the position
- Praise and thanks for Gamgort
- Ozan Dokmecioglu taking over
- Gamgort will remain as Executive Chairman at Keurig Dr Pepper
- Gamgort kept it short and said 51 words
(exechange) — Burlington, Massachusetts & Frisco, Texas, April 5, 2022 — Bob Gamgort, chief executive of Keurig Dr Pepper, leaves his position. As announced by Keurig Dr Pepper Inc. in a news release and in a regulatory filing published on Tuesday, April 5, 2022, Robert J. (Bob) Gamgort leaves his post as chief executive officer at the coffee and soft drinks company, after about four years in the role, effective July 29, 2022.
Bob Gamgort’s duties as CEO will be taken over by Ozan Dokmecioglu, currently Chief Financial Officer & President of International at Keurig Dr Pepper Inc.
“KDP’s talented and experienced senior team will continue in their current roles, with the process for recruiting a CFO to succeed Dokmecioglu already underway”, Keurig Dr Pepper stated.
“Strengthening KDP’s focus on deploying its exceptional discretionary free cash flow”
Keurig Dr Pepper did not give an explicit reason for Bob Gamgort’s departure from the CEO post. Keurig Dr Pepper said: “Keurig Dr Pepper Inc. (NASDAQ: KDP) today announced a CEO transition plan that leverages the successful partnership between Chairman & CEO Bob Gamgort and CFO Ozan Dokmecioglu to ensure continuity of the Company’s leadership and strategic direction, while strengthening KDP’s focus on deploying its exceptional discretionary free cash flow to create shareholder value.”
Gamgort will remain as Executive Chairman at Keurig Dr Pepper
“Bob Gamgort, currently Chairman and CEO, has committed to serve as Executive Chairman of KDP for two years,” Keurig Dr Pepper said.
Keurig Dr Pepper said: “Robert J. Gamgort will transition from his position as President and Chief Executive Officer of the Company effective as of July 29, 2022.”
Share price increase since April 2019
The announcement follows an increase in Keurig Dr Pepper Inc.’s share price of 38% since April 2019.
In the position of CEO since 2018
Bob Gamgort became CEO of the Company in 2018.
Gamgort has served as one of the Company’s directors since July 2018 and as the Company’s Executive Chairman of the Board since January 2019.
Gamgort has served as the Company’s President and Chief Executive Officer since July 2018, and prior to the closing of the Merger, served as the President and Chief Executive Officer of KGM beginning in May 2016.
He also joined the board of directors of National Veterinary Associates, Inc. in February 2020.
Gamgort has enjoyed a 30+ year career in consumer products, progressing through marketing, sales, strategy and general management roles at Kraft Foods, Inc., as President of Major League Baseball Proprieties, North American President of Mars, Inc. and CEO of Pinnacle Foods Inc., prior to joining KGM.
Gamgort received a BA from Bucknell University and an MBA from the Kellogg Graduate School of Management at Northwestern University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Bob Gamgort’s move on a scale of 0 to 10.
exechange reached out to Keurig Dr Pepper and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 15.2022 ($).