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Keurig Dr Pepper names CEO for planned coffee spin-off; shares rise

By Reuters News16:19 (UTC), 1 October 2026 Updated

** Shares of soft drinks giant Keurig Dr Pepper KDP.O rise 1.4% to $30.78

** Co names Kimberly-Clark KMB.O executive Russ Torres as CEO of its coffee business called Global Coffee Co, which will be a publicly traded co early next year

** Torres, who joins on Nov. 3, brings three decades of consumer goods experience leading global brands and large-scale business transformations

** 13 of 20 brokerages rate the stock "buy" or higher and seven "hold"; median PT is $37 - data compiled by LSEG

** Including session's move, stock down 9.9% YTD

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