Keurig Dr Pepper Announces Leadership Moves Ahead of Planned Separation, Coffee Unit CEO to Depart
June 24 - 2026
Coffee Geography Magazine
Keurig Dr Pepper Inc. (KDP) unveiled a series of leadership updates as the beverage giant advances preparations for its targeted separation into two independent public companies — Beverage Co. and Global Coffee Co. in early 2027.
The company said Rafa Oliveira, head of KDP’s Coffee Operating Unit, has informed the board of his intention to leave at the end of July to become chief executive officer of an external company. KDP’s board has opened a search for a successor to lead Global Coffee Co. as a standalone entity. The search will be led by Pamela Patsley, chairman of KDP’s board and its nominating and governance committee, who will also serve as chairman of Global Coffee Co. once the separation is complete.
Tim Cofer, KDP’s CEO, will continue to oversee the coffee business in the interim, working with the Coffee Operating Unit leadership team to deliver on key commitments and separation milestones. As previously announced, Cofer is set to become CEO of Beverage Co. after the split.
Tim Cofer, CEO of KDP
“Our business has strong momentum, and we remain focused on executing our 2026 priorities: delivering our full year guidance, successfully integrating JDE Peet's and achieving separation milestones,” Cofer said in a statement. “We have highly capable and experienced leadership teams for our Beverage Operating Unit, Coffee Operating Unit and Transformation Management Office, and I will work closely with each group to deliver on our commitments while standing up two advantaged companies.”
Patsley, who has served on KDP’s board since the company was formed in 2018, brings deep coffee-industry knowledge and extensive public-company governance experience to the chairmanship of Global Coffee Co. She said the recent acquisition of JDE Peet’s is creating a scaled global coffee leader with iconic brands, broad format participation and deep category expertise.
Pamela Patsley, Chairman of KDP's Board and Chairman
“Our conviction in the value creation opportunity for Global Coffee Co. has only strengthened since the transaction’s close,” Patsley said. “We are confident we will secure the right world-class executive to lead the coffee business and maximize shareholder returns.”
Oliveira, who led JDE Peet’s and has been instrumental in laying the groundwork for Global Coffee Co., said he was proud of the progress made in integrating the coffee businesses and beginning to capture synergy opportunities. “While I have made the difficult decision to pursue a different opportunity, my confidence in Global Coffee Co.’s potential is unwavering, and I’m committed to a smooth transition,” he said.
In connection with the announcements, KDP reaffirmed its 2026 guidance, forecasting 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.
Keurig Dr Pepper’s portfolio spans more than 150 owned, licensed and partner brands, including Dr Pepper, Canada Dry, Snapple, Keurig, Peet’s, L’OR and Jacobs, with operations across North America and more than 100 global coffee markets. The company employs more than 50,000 people worldwide.