Business
Central Garden & Pet Announces Appointment of Lead Independent Director, Beth Springer, as Interim Chief Executive Officer
Current CEO Tim Cofer Departing to Join Keurig Dr Pepper, Initially as COO, and Will Assume the CEO Role in Q2 2024 Central Reaffirms Expectations for Fiscal
About this update from Central Garden & Pet Company
[{"type":"text","content":"\nCurrent CEO Tim Cofer Departing to Join Keurig Dr Pepper, Initially as COO, and Will Assume the CEO Role in Q2 2024\n\n\nCentral Reaffirms Expectations for Fiscal 2023 Non-GAAP EPS of $2.55 or Better\n\n\n WALNUT CREEK, Calif.--(BUSINESS WIRE)--\nCentral Garden & Pet Company (“Central”) (NASDAQ: CENT) (NASDAQ: CENTA), a market leader in the Pet and Garden industries, today announced that Tim Cofer, Chief Executive Officer since October 2019, has informed the Board of his intent to depart Central, effective as of the close of business on October 6, 2023. Mr. Cofer will join Keurig Dr Pepper, initially as Chief Operating Officer, and will assume the role of Chief Executive Officer in the second quarter of 2024. Beth Springer, Central’s Lead Independent Director, has been named as Interim Chief Executive Officer while the Board conducts a comprehensive search for a permanent successor.\n\n\n“Tim has had a significant and positive impact on Central over the last four years. During his tenure, he established clear strategic direction and successfully navigated the pandemic, delivering record results during a challenging and volatile economic environment. He is a strong leader, and I’m sorry to see him go,” said Bill Brown, Chairman of Central Garden & Pet. “At the same time, the Board and I believe we have positioned Central for profitable long-term growth in the foreseeable future thanks to the Central to Home strategy and other recent initiatives. I thank Tim for his many contributions to the Company and wish him success in his new position.”\n\n\n“I have enjoyed a strong and close partnership with Bill since joining Central in 2019 and am proud of all we accomplished together through a challenging environment,” said Cofer. “I am convinced that our Central to Home strategy and our ongoing cost and simplicity program will yield positive benefits well into the future. While I am confident that Central will continue to grow and succeed, the opportunity presented to me to lead Keurig Dr Pepper is compelling and exciting, and it is the right next step for me. I am committed to ensuring the smoothest possible transition, and I wish all of the team at Central well.”\n\n\nSpringer has served on the Central Board since 2013 and brings extensive experience in management, operations and consumer products. She spent over 20 years with The Cl...