Coke Makes Sweeping Organizational Changes
Coca-Cola Co. has unveiled a bevy of executive appointments that will take effect when current president and chief operating officer James Quincey becomes chief executive officer on May 1.
The changes are designed to "drive [Coca-Cola's] ongoing transformation into a growth-oriented, consumer-centered, total beverage company," according to a media release. Among the key changes:
Chief information officer Barry Simpson will now report directly to the CEO. The change reflects "the importance of digitization as a growth enabler" across all aspects of the business. Simpson was named top CIO last fall after eight years in leading business unit roles. His background also includes eight years at Colgate-Palmolive.
Francisco Crespo was named chief growth officer, a new position that combines global marketing, customer and commercial leadership, and strategy into one function across five strategic beverage categories. The 28-year Coke veteran currently serves as president of the Mexico business unit, and is credited with leading expansion there and previously throughout Latin America.
Robert Long was tapped as the company's first chief innovation officer as global research & development is elevated into a stand-alone function reporting directly to the CEO. Long currently is vice president, research and development.
Executive vice president and chief financial officer Kathy Waller will broaden her responsibilities to include key strategic governance areas as president of enabling services. In addition to global finance, Waller will oversee the global technical team; a newly created integrated services team focusing on financial, procurement and shared services; and a new business transformation team charged with implementing the company’s new operating model, including productivity and zero-based work.
Eppert, who currently serves as chief financial and supply chain officer for Coca-Cola North America, will lead the global business transformation unit. Senior vice president, corporate strategy and planning Brent Hastie will take over for Eppert's current role.
“Today’s organizational announcement is another building block in our company’s transformational journey,” Quincey said in the release. “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."
Elsewhere, chief marketing officer Marcos de Quinto will retire after 35 years with the company and roughly two in his final post.