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
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.
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James Quincey, President and Chief
Operating Officer, The Coca-Cola Company, stands with Muhtar Kent,
Chairman and Chief Executive Officer, The Coca-Cola Company.
Quincey, a 19-year Coca-Cola veteran, assumed responsibility for
all of the Company's operating units worldwide, effective Aug. 13,
2015. (Photo: Business Wire)
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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The Coca-Cola CompanyMediaKent Landers, +01
404.676.2683orInvestors and Analysts:Tim Leveridge,
+01 404.676.7563
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