Shares of Keurig Dr Pepper Inc. KDP were flat Wednesday after the company named Tim Cofer as chief operating officer and announced he will succeed Chief Executive Bob Gamgort in the second quarter of 2024. Gamgort will serve as executive chairman of KDP after the transition. Cofer, who is CEO of Central Garden & Pet Co. CENT, is scheduled to join Dr Pepper on Nov. 6. Cofer spent more than 25 years with Mondelēz International XE:KTF and its predecessor company, Kraft Foods.

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