ATLANTA -- A reorganized leadership team at the Coca-Cola Co. will underscore growth and innovation as new CEO James Quincey prepares to take over May 1.
A new leadership team is being put in place to steer the beverage maker "into a growth-oriented, consumer-centered, total beverage company," the current president and COO said.
Key changes include:
- Combining global marketing, customer and commercial leadership, and strategy into one combined function under the leadership of a new chief growth officer to drive growth across five strategic beverage categories.
- Appointing a chief innovation officer to elevate global research and development into a standalone innovation function reporting directly to the CEO. This represents the increased importance of innovation to the company’s growth plans.
- Positioning the information technology function as a direct report to the CEO given the importance of digitization as a growth enabler for the company’s business.
- Combining key global transactional and expertise services into an expanded and reconstituted integrated services organization that will primarily focus on financial, procurement and associate shared services.
“Today’s organizational announcement is another building block in our company’s transformational journey,” Quincey said. “We are moving quickly to structure our organization for faster growth and to ensure we can respond to the fast-changing needs of our consumers, customers, system and associates around the world. Each of the leaders named today is highly capable and understands our clear mandate for change, and I look forward to partnering with them as we transform our business for the future.”
The changes support work already underway to create "a leaner, more agile corporate organization that is focused on strategy, governance and vital strategic initiatives, such as innovation and portfolio growth through leading brands and categories," the company said. They also follow changes made by Quincey to the company’s international operations leadership team last year.
Senior Leadership Appointments
Leaders assuming new or expanded responsibility in the organization and reporting directly to Quincey, effective May 1, include:
Francisco Crespo, who currently serves as president of the Mexico business unit, will fill the newly created role of chief growth officer. A 28-year company veteran, Crespo will lead the company’s global marketing, corporate strategy, and customer and commercial leadership teams to create a consolidated team with a clear mandate for driving global growth. This role will lead the evolving category cluster model focused around five beverage categories: sparkling, juice/dairy/plant-based, tea and coffee, water and enhanced waters and energy. Julie Hamilton, chief customer and commercial leadership officer, and the Corporate Strategy and Planning and Global Marketing leadership teams will report to the chief growth officer.
Robert Long, currently vice president, research and development, will become a direct report to the CEO as chief innovation officer. This move is indicative of Coca-Cola’s increased focus on accelerating the growth of its consumer-centric brand portfolio with hundreds of new products and continued innovation in beverages, packaging, ingredients and other areas of the business around the world, said the Atlanta-based company.
Barry Simpson, currently senior vice president and chief information officer, will remain in his role but be elevated as a direct report to the CEO to increase visibility and focus on efforts to digitize all aspects of the company’s business. Barry became CIO last fall and oversees all of the company’s global information technology strategy, services and operations.
Kathy Waller, currently executive vice president and chief financial officer, will assume expanded responsibility for the company’s strategic governance areas as executive vice president, CFO and president of enabling services. In addition to the Global Finance organization, the Global Technical team led by Dr. Ed Hays; a newly created Integrated Services team, which will be led by Robin Moore; and a new Business Transformation team to be led by Mark Eppert will report to Waller. The Integrated Services team will focus on financial, procurement and associate shared services, while the Business Transformation team will be responsible for driving the changes needed to implement the company’s new operating model, including productivity and zero-based work.
Jennifer Mann, currently chief of staff to Quincey, will become chief people officer. Coca-Cola’s long-term growth and success is dependent on investing in and developing its people and strengthening the talent pipeline, the company said. Mann will lead efforts to drive cultural change throughout the organization and will continue to serve as Quincey’s chief of staff.
Bea Perez, currently vice president and chief sustainability officer, will become chief public affairs, communications and sustainability officer. In this new role, Perez will leverage the external stakeholder work done in Public Affairs and Communications, sustainability and partnerships in a more strategic, integrated and holistic way.
Senior Leadership Retirements
In addition to the above appointments, three longtime senior functional leaders have chosen to retire from the company. Each will assist in the transition of their functions and serve as advisers to Quincey until their retirements, the company said.
Marcos de Quinto, executive vice president and chief marketing officer, will retire after a nearly 35-year Coca-Cola career.
Ceree Eberly, senior vice president and chief people officer, will retire after a 27-year Coca-Cola career.
Clyde Tuggle, senior vice president and chief public affairs and communications officer, will retire after a 28-year Coca-Cola career.
“We enter this next chapter of our history on the shoulders of so many great leaders who have come before us,” Quincey said. “We are grateful to Marcos, Ceree and Clyde for their nearly 90 years of combined service to the company, and we salute their legacy of strong leadership and wise counsel. We wish them each the best as they retire.”
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