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Keurig Dr Pepper Inc KDP Stock Quote

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Keurig Dr Pepper Reappoints Former CEO After Abrupt Replacement Tenure; Capital Allocation Unchanged

Rebecca Scheuneman, CFA Senior Equity Analyst

Analyst Note

| Rebecca Scheuneman, CFA |

Narrow-moat Keurig Dr Pepper’s C-Suite changes continue, with its current executive chairman and former CEO Bob Gamgort set to reassume the CEO role as Ozan Dokmecioglu steps down from the position after just four months. This abrupt CEO departure is attributable to Dokmecioglu’s violation of company’s code of conduct, and we view the firm's decision as favorable, based on its decisive action to uphold its ethical policies, in line with Sustainalytics’ strong rating for the management of ESG risks. We’ll await formal investigation results to opine on the efficacy of the firm’s candidate vetting process, to the extent that violations could have occurred prior to the promotion. Ultimately, we expect the transition to go smoothly, given Gamgort’s four years in the CEO role since the 2018 merger and his prior position as the CEO of Keurig Green Mountain.

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Business Description

Keurig Dr Pepper, the product of a 2018 merger between Dr Pepper Snapple and Keurig Green Mountain, is the third-largest nonalcoholic beverage company in North America. In addition to the eponyms, the firm's flagship brands include 7UP, Canada Dry, Schweppes, Mott's, and Bai. The company situates itself at different positions of the value chain depending on the segment (it reports four operating segments) and the product. It is primarily a brand owner in its beverage concentrates and Latin America beverages segments, as well as for the single-serve brewers within its coffee systems segment, and owns integrated production and distribution operations in its packaged beverages segment as well as for its K-cup pods.

53 South Avenue
Burlington, MA, 01803
T +1 781 418-7000
Industry Beverages - Non-Alcoholic
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2021
Employees 27,500

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