Keurig Dr Pepper CEO to Lead Coffee Business Post-Split

By Hao Liu • Tuesday, June 23 10:55 • Permanent Link

Keurig Dr Pepper said Chief Executive Tim Cofer will keep running the coffee business through the company’s planned split, while the company searches for a new chief executive for Global Coffee Co. after Rafael Oliveira said he intends to leave at the end of July.

The company said Pamela Patsley, chairman of KDP’s board, will lead the search for the future CEO of Global Coffee Co. and will also serve as chairman of that company’s board after the separation. Cofer will remain CEO of Beverage Co. once the split is completed.

KDP said it is still targeting an early 2027 separation into Beverage Co. and Global Coffee Co.

The company reiterated its 2026 outlook for net sales of $25.9 billion to $26.4 billion and constant-currency adjusted diluted EPS growth in a low-double-digit range.

Cofer said KDP is focused on three 2026 priorities: delivering full-year guidance, integrating JDE Peet’s, and hitting separation milestones.

Oliveira said he has been leading the integration of the coffee businesses and that the company has begun to pursue “meaningful synergy opportunities.” Patsley said the JDE Peet’s acquisition is creating a “scaled, global coffee leader” with brands across formats and occasions. As a result of these announcements, the company's shares have moved -2.38% on the market, and are now trading at a price of $30.135. Check out the company's full 8-K submission here.

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