The Coca-Cola Company has announced that its Board of Directors has approved unanimously the recommendation of Chairman and Chief Executive Officer (CEO) Muhtar Kent for an evolution of the company’s senior leadership structure.
Under the new structure, company veteran James Quincey, President and Chief Operating Officer, will succeed Kent as CEO, effective May 1, 2017. Kent will continue as Chairman of the Board of Directors.
The Board intends to nominate Quincey to stand for election as a director at the 2017 Annual Shareowners Meeting in April.
Quincey, 51, was named The Coca-Cola Company’s President and Chief Operating Officer in August 2015. Earlier this year, he put in place a new international operating structure and leadership team to make the company more efficient and effective at the local levels.
Prior to this role, Quincey served as President of The Coca-Cola Company’s Europe Group. Under his leadership, according to the company, the Europe Group was the company’s most profitable operating group as it strategically expanded its brand portfolio and improved execution across the geography.
The Coca-Cola Company (NYSE: KO) is a leading beverage company.
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