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Keurig Dr Pepper (KDP) has opened a search for the future chief executive of Global Coffee Co after Rafael Oliveira, head of the company's coffee operating unit, informed the business of his intention to leave at the end of July.
Oliveira, who has led JDE Peet's since 2024, is departing to take up an external chief executive opportunity. He has been named as Heineken's next CEO and chair of the executive board, subject to shareholder approval.
Following KDP's acquisition of the coffee and tea company, Oliveira was appointed to lead KDP's coffee operating unit and serve as CEO of the planned Global Coffee Co.
KDP is currently preparing for its planned separation into Beverage Co and Global Coffee Co, which is targeted for early 2027.
Pamela Patsley, chairman of KDP's board and chair of its nominating and governance committee, will lead the search for Oliveira's successor. KDP also confirmed that Patsley will serve as chairman of Global Coffee Co following the separation.
KDP chief executive Tim Cofer will continue to oversee the coffee business in the interim, working with the coffee operating unit leadership team as the company progresses the integration of JDE Peet's and prepares for the planned separation. Cofer is expected to serve as chief executive of Beverage Co once the split is complete.
Cofer said: “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.”
Patsley said KDP’s acquisition of JDE Peet’s is creating a “scaled, global coffee leader” with a broad portfolio of brands and category expertise.
Oliveira said: “It has been an honour to lead JDE Peet’s and lay the foundation for Global Coffee Co. I’m proud of the progress we’ve made in integrating our coffee businesses, bringing our teams together and beginning to execute on meaningful synergy opportunities.”
He added that he remains committed to supporting a smooth transition.
KDP reaffirmed its 2026 guidance, including 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.
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