Coca-Cola appoints COO, names new CFO in leadership shakeup
Coca-Cola announced on Thursday several changes to its leadership team, including the appointment of a chief operating officer and the upcoming retirement of its finance chief.
The beverage and snack giant said Brian Smith, the head of Coca-Cola’s business in Europe, the Middle East and Africa, will serve as president and COO beginning Jan. 1, 2019. The move will allow CEO James Quincey, who currently holds the title of president, to focus on overall long-term strategies, Coca-Cola said.
“I have tremendous respect for Brian, who is a valued business partner,” Quincey said in a statement. “He is the ideal person to steer the in-market executional leadership of the company, which will allow me to focus on the strategic direction of Coca-Cola as we continue to evolve as a total beverage company.”
Asia Pacific head John Murphy will replace Kathy Waller as chief financial officer next year. Murphy will become senior vice president and deputy chief financial officer at the start of 2019, before taking over as executive vice president and CFO on March 16, when Waller retires after 32 years at Coca-Cola.
The Atlanta-based company also announced that Nancy Quan will start a new role as senior vice president and chief technical officer next year. Quan currently serves as a vice president and chief technical officer for Coca-Cola North America. Current CTO Ed Hays will retire in March.
Chief Information Officer Barry Simpson will take on expanded duties, including oversight of the company’s enabling services group. His new title will be chief information and integrated services officer.
Shares of the company were trading slightly lower Thursday. Coca-Cola is down less than 1 percent since the start of the year.