Rafael Henrique | Lightrocket | Getty Images Keurig Dr Pepper announced Thursday that CEO Ozan Dokmecioglu has agreed to step down after violating the company’s code of conduct, less than four months into the position. The drinks giant said the breaches were not related to the company’s strategy, operations or financial reporting. Keurig Dr Pepper’s board has reappointed Bob Gamgort, president and former CEO, as CEO. The company’s shares rose 2% in morning trading on the news. Keurig Dr Pepper stock is up 3% this year, raising its market value to $54.4 billion. Gamgort ceded the role to Dokmecioglu on July 29 as part of a previously announced succession plan. When the change was announced in April, the company said it considered internal and external candidates for the role. Prior to becoming CEO, Dokmecioglu served as the company’s CFO, helping Keurig Green Mountain go private in 2016 and through its merger with Dr Pepper Snapple in 2018. Dokmecioglu serves on Krispy Kreme’s board of directors.
