1st Tuesday Recap: Tim Cofer, ’92 MBA

From hopping on the “dirty soda” trend to investing in energy drinks, Keurig Dr Pepper CEO Tim Cofer, ’92 MBA, discussed his company’s efforts to innovate while speaking at the Carlson School’s 1st Tuesday.

In conversation with Minnesota Public Radio’s Chris Farrell, Cofer said Keurig Dr Pepper looks to emulate “consumer obsession” when expanding or revamping its product portfolio.

“The real magic in consumer products is when you can connect consumer truths and cultural moments or cultural trends with brand authenticity,” Cofer said. “When you can bring all of that together in a proposition around innovation, that’s where the magic happens.”

Cofer went on to explain how Keurig Dr Pepper spotted the “dirty soda” trend (adding additional ingredients to store-bought sodas at home) on TikTok in late 2023, which inspired the launch of a new product, Dr Pepper Creamy Coconut, in 2024.

Keurig Dr Pepper has a beverage portfolio that extends well beyond its namesake soda and coffee, and Cofer explained how the company follows trends to help determine areas of growth. For example, the company recently acquired Ghost energy drinks.

When Farrell inquired about how Keurig Dr Pepper is handling the national economic uncertainty that has come with inflation and proposed tariffs, Cofer admitted that his company has not been immune to challenges. A particular issue has been the rising price of coffee, he said.

The company’s response has included working to predict economic challenges and developing risk mitigation measures, such as evaluating suppliers and occasionally adjusting the pricing of consumer products.

“Beyond those levers, we’re just making sure that we’ve got the holistic approach that still allows us as a publicly traded company to deliver on our guidance … and we’re pretty confident with even those changing dynamics that we can deliver on those expectations,” he said.

Cofer and Farrell closed out their conversation by discussing Cofer’s wide-ranging international career across six different countries.

“The additional challenge and stimulation of working outside your home country is another level,” Cofer said. “It’s about learning. It broadens your perspectives. It creates a greater challenge, but I think it’s more rewarding, too. It’s just that much more rewarding to have those cross-cultural experiences.”

1st Tuesday returns in June with Christy Sovereign, ’89 BSB, CEO for the 2026 Special Olympics USA Games. For more details, see the registration information.