Keurig Dr Pepper CEO resigns for violating code of conduct, less than 4 months after being appointed

Keurig Dr Pepper Inc.
KDP,
-0.98%
said Thursday that Chief Executive Ozan Dokmecioglu has resigned after less than four months in the role, due to violations of the beverage company’s code of conduct. The company said Bob Gambort, who Dokmecioglu had succeeded as CEO, will reassume the CEO role. Dokmecioglu was appointed CEO on July 29. The company said the violations of the code of conduct were not related to started, operations or financial reporting. “Keurig Dr Pepper’s code of donduct 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 Michaels, lead director of the company’s board of directors. The stock, which rose 0.7% in premarket trading, has gained 1.9% year to date through Wednesday, while the S&P 500
SPX,
-2.08%
has dropped 21.4%.