FRISCO, TEXAS — Bob Gamgort, chairman and chief executive officer of Keurig Dr Pepper (KDP), is stepping down from his role this summer. He will be succeeded by Ozan Dokmecioglu, chief financial officer and president of the company’s international division.

Effective July 29, Mr. Gamgort will transition to the role of executive chairman for a two-year term. Mr. Dokmecioglu will join KDP’s board of directors. Both leaders will continue working closely together, with Mr. Dokmecioglu executing the company’s operational strategy and Mr. Gamgort overseeing discretionary cash flow.

Mr. Gamgort and Mr. Dokmecioglu previously led Keurig Green Mountain as CEO and CFO, respectively. The pair led the company’s take-private transaction in 2016 as well as the subsequent merger with the Dr Pepper Snapple Group in 2018.

Mr. Gamgort has agreed to remain a significant investor in KDP and will maintain at least half of his shareholdings during his tenure as executive chairman, according to the company. The process for recruiting a new CFO to succeed Mr. Dokmecioglu already is underway.

“Ozan is an exceptionally strong leader with the skills, experience, values and perspective to lead KDP into the future,” said Paul Michaels, the company’s lead independent director. “We are also fortunate to have Bob in a position to continue working closely with Ozan and the leadership team over the next few years.”