01—Abstract
Summary
Summary of the 8-K filed October 28, 2024. Cited figures are marked; the original filing is the authoritative source.
Keurig Dr Pepper Inc. (KDP) filed this Current Report on Form 8-K under Item 5.02, disclosing a change in its Board of Directors.
Lubomira Rochet notified the Executive Chairman of the Board of her immediate resignation as a director on October 28, 2024. The filing states that her resignation did not result from any disagreement with the Company or the Board. On the same date, the Board appointed Frank Engelen, Managing Partner and Chief Financial Officer of JAB Holding Company, as a director, effective immediately.
Mr. Engelen's initial term expires concurrently with the other directors' terms at the 2025 annual meeting of stockholders, or upon his earlier death, resignation or removal. He will not serve on any Board committees. The filing states that Mr. Engelen has no arrangements or understandings with any other persons regarding his appointment and is not a party to any reportable related-person transaction under Item 404(a) of Regulation S-K.
He will receive compensation as a non-employee director under the arrangements described in the Company's 2024 Proxy Statement, filed with the SEC on April 26, 2024. The filing contains no financial results or other operating data.
02—Key points
Key Highlights
- Lubomira Rochet resigned from the Board of Directors effective immediately on October 28, 2024, with the filing stating no disagreement with the Company or the Board.
- Frank Engelen, Managing Partner and CFO of JAB Holding Company, was appointed to the Board effective immediately on October 28, 2024.
- Mr. Engelen's initial term runs until the 2025 annual meeting of stockholders, or earlier death, resignation or removal.
- Mr. Engelen will not serve on any Board committees.
- The filing states Mr. Engelen has no related-person transactions reportable under Item 404(a) of Regulation S-K and no arrangements with others regarding his appointment.
- Mr. Engelen will receive non-employee director compensation as described in the 2024 Proxy Statement filed April 26, 2024.
- The filing reports no financial results, guidance or other operating data.
03—Questions
Frequently Asked Questions
Why did Lubomira Rochet leave the Board?
The filing states that her immediate resignation, notified to the Executive Chairman of the Board on October 28, 2024, did not result from any disagreement with the Company or the Board. It gives no other reason.
Who is Frank Engelen and what is his role on the Board?
Frank Engelen is Managing Partner and Chief Financial Officer of JAB Holding Company. The Board appointed him as a director effective October 28, 2024, and he will not serve on any Board committees.
How long will Mr. Engelen serve as a director?
His initial term expires concurrently with the other directors' terms at the Company's 2025 annual meeting of stockholders, unless he dies, resigns or is removed earlier.
Does Mr. Engelen have any related-party ties to the Company?
The filing states that he is not a party to any transaction with the Company reportable under Item 404(a) of Regulation S-K and that there are no arrangements or understandings with other persons regarding his appointment.
How will Mr. Engelen be compensated?
He will participate in the non-employee director compensation arrangements described in the Company's 2024 Proxy Statement, filed with the SEC on April 26, 2024.
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