Keurig Dr Pepper coffee chief to depart ahead of planned split

Keurig Dr Pepper Inc. (NASDAQ: KDP) announced that Rafa Oliveira, head of the company's Coffee Operating Unit, will leave at the end of July to pursue an external chief executive officer role.

The company's board has opened a search for a future CEO of Global Coffee Co., the entity planned to emerge from KDP's separation into two independent companies. Pamela Patsley, chairman of KDP's board, will lead the search. Patsley will also serve as chairman of Global Coffee Co.'s board following the separation, which is targeted for early 2027.

KDP CEO Tim Cofer will oversee the coffee business in the interim while continuing to prepare for the separation. Cofer is set to serve as CEO of Beverage Co. after the split.

In connection with the announcement, KDP reaffirmed its 2026 guidance for net sales of $25.9 billion to $26.4 billion and constant currency adjusted diluted earnings per share growth in a low-double-digit range. The guidance is presented on a non-GAAP basis.

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