Cahillane will lead CCR, which will integrate four business components into a modern bottling and customer service operation in the United States and Canada. The four components are CCE North America; Coca-Cola North America (CCNA) Foodservice; the Minute-Maid/Odwalla Juice business; and CCNA Supply Chain Operations.
The closing of the transactions is expected to occur in the fourth quarter of this year and is subject to, among other things, regulatory and CCE shareholder approvals.
"I have every confidence that Steve has the right experience, capability and leadership qualities to fully leverage the opportunity offered by [CCR]," said Coca-Cola chairman and CEO Muhtar Kent. "Under his leadership, it is our intention for CCR to serve every one of our North American customers with greater passion, speed and flexibility so we can continue to gain profitable share. Additionally, we will generate $350 million in synergies and create sustainable growth in the dynamic U.S. beverage market."
While Cahillane will not assume his new role until the successful completion of the transaction, he will work closely with the recently announced North America Business Integration (NABI) team, led by Brian Kelley, in developing a comprehensive plan that can be implemented immediately once the acquisition is approved and closed.
Cahillane has more than 20 years of successful international beverage sales, marketing and distribution experience. He joined CCE in 2007 after serving in leadership roles at several other leading beverage companies.
Sandy Douglas will continue as president of CCNA, and both executives will report to Kent.
Douglas will also serve on the integration steering committee and provide franchise leadership for the North American business and ensure world-class consumer marketing for the company's flagship operation. He has been president of CCNA since 2006.
"Under Sandy's leadership, North America has remained focused on strengthening brands and customer relationships, continuing to gain volume and value share in the nonalcoholic ready-to-drink beverage segment in a challenging environment. I am confident that under Steve's and Sandy's leadership, [CCR] and [CCNA] will be powerful forces in achieving our 2020 Vision, ushering in a new era of winning for our Coca-Cola system," said Kent.
Atlanta-based Coca-Cola has more than 500 sparkling and still brands. Along with Coca-Cola, recognized as the world's most valuable brand, the Company's portfolio includes 12 other billion-dollar brands, including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply and Georgia Coffee. It provides sparkling beverages, juices and juice drinks and ready-to-drink teas and coffees.
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