Coca-Cola Co. named James Quincey president and chief operating
officer.
Mr. Quincey, 50 years old, has worked at Coca-Cola for 19 years
and has been president of the company's Europe group since 2013. He
also helped lead the recently announced merger of Coca-Cola
Enterprises, Coca-Cola Iberian Partners SA and Coca-Cola
Erfrischungsgetranke AG. The new entity will become the world's
largest independent Coca-Cola bottler based on revenue.
"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," Chief Executive
Muhtar Kent said of Mr. Quincey.
Coca-Cola President Ahmet Bozer, 55, plans to retire in March.
He joined the company in 1990 in Atlanta.
The world's largest beverage company has been struggling
recently as health-conscious consumers turn away from soda. It said
last year that it plans to eliminate at least 1,000 to 2,000 jobs
globally in the coming weeks, the biggest thinning of its ranks in
15 years. It also introduced stricter budgeting, telling executives
to swap limousines for taxis and dropping its lavish Christmas
party for Wall Street analysts.
Shares, inactive premarket, have fallen about 2% this year.
Write to Angela Chen at angela.chen@wsj.com
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