Appoints
Veteran Executive to Oversee Global Operations
Ahmet
Bozer, Executive Vice President and President of Coca-Cola International, to Retire
after Distinguished 25-Year Career
ATLANTA, Aug. 13, 2015 – The Coca-Cola Company (NYSE: KO)
today announced James Quincey has been named President and Chief Operating Officer
(COO), effective immediately. As
President and COO, Quincey will have responsibility for all of the Company's
operating units worldwide. He will report directly to Chairman and Chief Executive
Officer Muhtar Kent.
Quincey, 50, is a 19-year
veteran of Coca-Cola and since 2013 served as President of The Coca-Cola
Company’s Europe Group, which comprises 38 countries, including the Member
States of the European Union, the European Free Trade Association countries and
the Balkans. Under Quincey’s leadership,
the Europe Group, the Company’s most profitable operating group, strategically
expanded its brand portfolio and improved execution across the geography. These
actions helped drive solid topline growth and expanded the Company’s leading
market share position in total nonalcoholic ready-to-drink (NARTD) beverages
despite the volatile and prolonged macroeconomic challenges in the region.
Quincey also played an
instrumental role in leading the recently announced proposed merger of
Coca-Cola Enterprises, Coca-Cola Iberian Partners and Coca-Cola
Erfrischungsgetranke AG to form Coca-Cola European Partners Plc., in what will
become the world’s largest independent Coca-Cola bottler based on net revenues.
“Over nearly two decades, James
has built an impressive track record of strategic, operational and commercial
accomplishments,” said Muhtar Kent, Chairman and Chief Executive Officer. “He has
proven to be a successful and trusted leader and brings to this position a strong
reputation for developing people and inspiring teams. His wealth of experience
across our global system, particularly in Europe and Latin America, will be a valuable
asset as we continue to accelerate growth through our 2020 Vision and our
previously announced five strategic actions.
James is emblematic of the deep bench strength we have developed at Coca-Cola,
and I could not be more pleased about his appointment to this critical role at
this important time.”
“The Board unanimously
agrees that James Quincey’s leadership experience coupled with his strategic
thinking and proven ability to deliver results make him the right person to
help execute Coca-Cola’s strategic priorities and drive sustainable growth,”
commented Sam Nunn, Independent Lead Director of The Coca-Cola Company’s Board.
“Additionally, James will complement Muhtar’s skills and qualities,
making them a formidable team as they work to advance the Company’s growth
agenda.”
Reporting to Quincey will be
Irial Finan, President, Bottling Investments and Supply Chain;
J. Alexander “Sandy” Douglas Jr., President, North America Group; Brian Smith,
President, Latin America Group; Atul Singh, President, Asia Pacific Group; Nathan
Kalumbu, President, Eurasia & Africa Group; and Harry Anderson, Senior Vice
President, Global Business Services. Also reporting to Quincey will be two
executives leading the Company’s strategic investment partnerships, Deryck van
Rensburg and Doug Jackson. Dan Sayre, Western Europe Business Unit President, and
Nikos Koumettis, Central and Southern Europe Business Unit President, will
continue to report to Quincey.
“I am excited and honored to
take on this role and look forward to partnering with Muhtar and our talented
senior leadership team to deliver on our 2020 Vision and help accelerate the strategic
actions we’ve outlined to reinvigorate growth across our Company and system
worldwide,” said Quincey.
Concurrent to Quincey’s
appointment, Ahmet Bozer, Executive Vice President and President of Coca-Cola International,
will retire after a distinguished 25-year career in the Coca-Cola system. Bozer will stay with Coca-Cola until March
2016, to ensure a smooth transition and serve as an adviser to Muhtar Kent and
the Company on key strategic initiatives.
Kent said, “During his more
than two decades at Coca-Cola, Ahmet has made numerous contributions to our system. As President of International, he was
instrumental in leading both the recent streamlining of our international
business and the evolution of key bottling operations in Africa and Western
Europe. In addition, he has led the
sustained growth of many of our key developing markets throughout Eurasia and
Africa, and has played an important role in reinvigorating growth in critical Asia
Pacific markets.
Added Kent: “Ahmet has been a
consummate Coca-Cola leader who will be remembered by everyone across our
system as a leader of great integrity, character and intellect. He
was a very important and respected business partner of mine over many
years. He was also a great friend, and
will remain so. I want to wish Ahmet and his family continued success and
happiness in the future.”
Bozer, 55, began his career
with Coca-Cola in
1990 as a Financial Controller Manager in Atlanta, and has advanced to serve in
numerous leadership roles throughout the Coca-Cola system, including Managing
Director of Coca-Cola Bottlers of Turkey (now Coca-Cola Icecek A.S.), President
of the Eurasia Group and President of the Eurasia & Africa Group, where he
led the Company’s business activities in more than 90 countries. He was named President of Coca-Cola International
in 2012.
Before
joining Coca-Cola, Bozer spent five years in various audit, consultancy and
management roles with Coopers & Lybrand in Atlanta. He holds a Master of
Science in Business Information Systems from Georgia State University in the
U.S. and a Bachelor of Science in Business Administration from Middle East
Technical University in Ankara, Turkey.
About
James Quincey
Prior
to his role as head of the Europe Group, Quincey served as President of the
Northwest Europe & Nordics Business Unit (NWEN) from 2008 to 2012. Among Quincey’s many accomplishments during
this time was his leadership of the acquisition of innocent juice in 2009. Innocent is now sold in more than 14
countries and is well on its way to becoming one of the Company’s billion-dollar
brands.
From 2005 to 2008, Quincey
was President of the Mexico Division. During his tenure in Mexico, Quincey grew
market share for brand Coca-Cola and expanded the Company’s portfolio with the
re-launch of Coca-Cola Zero and the acquisition of Jugos de Valle, one of the
Company’s 20 brands that generate more than a billion dollars in annual
revenue, and which is now sold in 16 countries.
Quincey joined the Company
in Atlanta in 1996 as Director, Learning Strategy for the Latin America Group,
and went on to serve in a series of operational roles of increased
responsibility in Latin America, leading to his appointment as President of the
South Latin Division in 2003. During his
time in South Latin, Quincey was instrumental in developing and executing a
successful brand, pack, price and channel strategy, which has now been
replicated in various forms throughout Coca-Cola’s global system.
Prior to joining Coca-Cola,
Quincey was a Partner in strategy consulting at The Kalchas Group, a spin off
from Bain & Company and McKinsey. Quincey,
who is bilingual in English and Spanish, received a Bachelor's degree in
Electronic Engineering from the University of Liverpool. He will relocate from London to Atlanta later
this fall.
About
The Coca-Cola Company
The Coca-Cola Company (NYSE:
KO) is the world's largest beverage company, refreshing consumers with more
than 500 sparkling and still brands. Led by Coca-Cola, one of the world's most
valuable and recognizable brands, our Company's portfolio features 20
billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero,
vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally,
we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and
juices and juice drinks. Through the world's largest beverage distribution
system, consumers in more than 200 countries enjoy our beverages at a rate of
1.9 billion servings a day. With an enduring commitment to building sustainable
communities, our Company is focused on initiatives that reduce our
environmental footprint, support active, healthy living, create a safe,
inclusive work environment for our associates, and enhance the economic
development of the communities where we operate. Together with our bottling
partners, we rank among the world's top 10 private employers with more than
700,000 system associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo, visit our blog, Coca-Cola Unbottled, at www.coca-colablog.com or find us on LinkedIn at www.linkedin.com/company/the-coca-cola-company.
Forward-Looking Statements
This press release may contain statements, estimates or
projections that constitute “forward-looking statements” as defined under U.S.
federal securities laws. Generally, the words “believe,” “expect,” “intend,”
“estimate,” “anticipate,” “project,” “will” and similar expressions identify
forward-looking statements, which generally are not historical in nature. Forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from The Coca‑Cola Company’s
historical experience and our present expectations or projections. These risks
include, but are not limited to, obesity concerns; water scarcity and poor
quality; evolving consumer preferences; increased competition and capabilities
in the marketplace; product safety and quality concerns; perceived negative
health consequences of certain ingredients, such as non-nutritive sweeteners
and biotechnology-derived substances, and of other substances present in our
beverage products or packaging materials; increased demand for food products
and decreased agricultural productivity; changes in the retail landscape or the
loss of key retail or foodservice customers; an inability to expand operations
in emerging and developing markets; fluctuations in foreign currency exchange
rates; interest rate increases; an inability to maintain good relationships
with our bottling partners; a deterioration in our bottling partners' financial
condition; increases in income tax rates, changes in income tax laws or
unfavorable resolution of tax matters; increased or new indirect taxes in the
United States or in other major markets; increased cost, disruption of supply
or shortage of energy or fuels; increased cost, disruption of supply or
shortage of ingredients, other raw materials or packaging materials; changes in
laws and regulations relating to beverage containers and packaging; significant
additional labeling or warning requirements or limitations on the availability
of our products; an inability to protect our information systems against
service interruption, misappropriation of data or breaches of security;
unfavorable general economic conditions in the United States; unfavorable
economic and political conditions in international markets; litigation or legal
proceedings; adverse weather conditions; climate change; damage to our brand
image and corporate reputation from negative publicity, even if unwarranted,
related to product safety or quality, human and workplace rights, obesity or
other issues; changes in, or failure to comply with, the laws and regulations
applicable to our products or our business operations; changes in accounting
standards; an inability to achieve our overall long-term growth objectives;
deterioration of global credit market conditions; default by or failure of one
or more of our counterparty financial institutions; an inability to timely
implement our previously announced actions to reinvigorate growth, or to
realize the economic benefits we anticipate from these actions; failure to
realize a significant portion of the anticipated benefits of our strategic
relationships with Keurig Green Mountain, Inc. and Monster Beverage
Corporation; an inability to renew collective bargaining agreements on
satisfactory terms, or we or our bottling partners experience strikes, work
stoppages or labor unrest; future impairment charges; multi-employer plan
withdrawal liabilities in the future; an inability to successfully integrate
and manage our Company-owned or -controlled bottling operations; an inability
to successfully manage the possible negative consequences of our productivity
initiatives; global or regional catastrophic events; and other risks discussed
in our Company’s filings with the Securities and Exchange Commission (SEC),
including our Annual Report on Form 10-K for the year ended December 31, 2014
and our subsequently filed Quarterly Reports on Form 10-Q, which filings are
available from the SEC. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. The Coca‑Cola Company
undertakes no obligation to publicly update or revise any forward-looking
statements.
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