Coca-Cola Co has said that chief executive officer James Quincey is to take over the additional role of chairman, succeeding Muhtar Kent who will retire in April next year.
Kent, 65, who joined the beverage company in 1978, served as chief executive and chairman from 2009 until 2017 and continued as chairman after Quincey became the chief executive.
“One of the most important jobs of a chairman is to ensure that a strong leadership succession plan is in place,” Kent said. “I’m delighted that the board has elected James as chairman. He is the right leader to take the Coca-Cola system to the next level and through the next decade.”
Mentorship And Insights
Commenting on his appointment, Quincey added, “I’m honoured that the board of directors has asked me to serve as chairman of the company."
“I appreciate the years of mentorship, encouragement and insights I’ve gained from Muhtar. I also join my fellow directors in thanking Sam for his many years of service, and I look forward to working with Mel as she steps into an expanded role as lead independent director.”
The company also said the board had elected Maria Lagomasino as lead independent director to succeed Sam Nunn, who would step down from board after 22 years as a director.
Coca-Cola announced in October company veteran Brian Smith would to take over the role of president and chief operating officer beginning next year.
News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.
