Dr Pepper Snapple Group (DPS) and Keurig Green Mountain unveiled the leadership team that will take the helm at the new Keurig Dr Pepper (KDP) when the merger transaction between the two companies closes, which is expected to happen next month.
The changes in executive management, led by future KDP CEO Bob Gamgort, come as the $18.7 billion merger of the two beverage giants, announced in January, nears completion. Under the terms of the deal, JAB Holdings, the parent company of Keurig and Peet’s Coffee, among other brands, will control 87 percent of KDP.
“Our new leadership team represents the very best talent across both great companies,” Gamgort stated in a press release. “With proven track records of delivering strong results, I am pleased to have these experienced executives join me in creating a new challenger in the beverage industry. Our combined selling and distribution capabilities, along with our portfolio of hot and cold beverages, will enable us to reach consumers anytime and anywhere they shop for a beverage.”
Some of the moves included in today’s press release had been previously announced. Keurig CFO Ozan Dokmecioglu will continue in his role at KDP, while DPS CEO Larry Young will retire from the company and join KDP’s board of directors.
Lain Hancock has been appointed Chief Strategy and Emerging Brands Officer, having guided Bai Brands as CEO for just over a year following the departure of founder Ben Weiss last June. DPS acquired the New Jersey-based company for $1.7 billion in 2016.
Elsewhere, Rodger Collins, president of packaged beverages at DPS, has been appointed president of direct store delivery (DSD) at KDP, where he will be responsible for all company-owned DSD operations.
Other moves include DPS executive vice president and chief commercial officer Jim Treblicock’s appointment as KDP’s chief franchise and international officer, and Andrew Springate’s appointment as chief marketing officer at KDP.
The closing of the merger will also include exits for several notable figures from both DPS and Keurig. In the press release, the company noted that in some cases these would follow a transition period in which they will support KDP, but did not specify which individuals are included in that group.
Departures include Marty Ellen, executive vice president and CFO at DPS; Mark Choe, chief product officer at Keurig; Mike Degnan, chief legal officer and corporate general counsel for Keurig; DPS president of beverage concentrates and Latin America beverages Jim Johnston; Derry Hobson, EVP of transition team at DPS; and Scott Moffitt, chief brand and beverage officer at Keurig.
“These talented and dedicated executives have made significant contributions to both companies, and I sincerely thank them for their leadership, particularly during the merger process,” Gamgort stated in the press release.