Keurig Dr Pepper Inc. (KDP, Financial) has announced significant changes to its Board of Directors as of October 28, 2024. Lubomira Rochet has resigned from her position on the Board, a decision that was not influenced by any disagreements with the company or its Board members.
In a strategic move, the Board has appointed Frank Engelen, Managing Partner and Chief Financial Officer of JAB Holding Company, as a new member. Mr. Engelen's appointment is effective immediately, and he will serve until the company's 2025 annual meeting of stockholders, or until an earlier date if circumstances require. Notably, Mr. Engelen will not be part of any Board committees.
There are no special arrangements or understandings with other individuals that led to Mr. Engelen's appointment, and he is not involved in any transactions with Keurig Dr Pepper that would require disclosure under regulatory guidelines. Mr. Engelen will participate in the compensation arrangements for non-employee directors as outlined in the company's 2024 Proxy Statement.
This development marks a pivotal moment for Keurig Dr Pepper as it continues to strengthen its leadership team with experienced professionals from the industry.
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