Keurig Dr Pepper CEO Ozan Dokmecioglu agreed to resign after violating the company’s code of conduct after less than four months on the job, the company announced Thursday.
Violations were unrelated to strategy, operations or financial reporting.
The company’s board reappointed Bob Gamgort, chairman and former CEO, as chief executive. Dokmecioglu succeeded Gamgort on July 29 as part of a succession plan.
“Keurig Dr Pepper’s Code of Conduct is built on a foundation of ethics, integrity and personal responsibility. Every employee, without exception, is accountable for knowing and following the Code,” said Paul S. Michaels, lead director of the Keurig Dr Pepper’s board in a statement.
Dokmecioglu served as chief financial officer for the company. He helped Keurig Green Mountain go private in 2016 and also was involved in the 2018 merger with Dr Pepper Snapple.
Shares of the company that was formed through the 2018 merger of Dr Pepper Snapple and Keurig Green Mountain rose 2% in morning trading after the news broke.
“I look forward to continuing to work with the leadership team and the board in the role I held less than four months ago,” Gamgort said in a statement.
