Coca-Cola Co., the world’s largest beverage maker, said that chief marketing officer Joe Tripodi will retire at the end of February and be succeeded by Marcos De Quinto, an executive in the company’s European business.
De Quinto is currently president of the Iberia Business Unit and vice-president of the Europe Group, the Atlanta-based company said in a statement. He has previously served in various marketing roles in Spain, Asia and Germany.
Earlier this week, Coca-Cola posted third-quarter sales that trailed analysts’ estimates amid sluggish international growth and mounting concerns over obesity and artificial sweeteners. Chief executive officer Muhtar Kent has vowed to cut expenses by $3 billion a year by 2019.
Tripodi, who also serves as chief commercial officer, joined Coca-Cola in 2007.
Bloomberg News, edited by ESM
