Coca-Cola made James Quincey, an employee who’s worked for the company for 19 years, its news president and COO (chief operating officer). Quincey previously served as president for Coca-Cola’s European division.
Fifty year old Quincey has managed quite an achievement as the company hasn’t named anyone COO since Muhtar Ment, former CEO (chief executive officer), left the job back in 2008.
But the recent company shake-up involved more changes than that. Coca-Cola also informed that Ahmet Bozer, another veteran employee, is about to retire. He is both the president and executive vice president of Coca-Cola’s International division. Bozer will keep working for the company as an adviser for the time being, but will retire in March, at the age of 55.
What all of this means is that Quincey is the company’s No. 2, right after Muhtar Kent, Coca-Cola’s Chief Executive and Chairman. But fields experts speculate that the company is setting up Quincey to succeed Kent, age 62, who filled the position in 2008.
Kent gave a statement talking about Quincey. He said that Quincey has a “wealth of experience across our global system”. He is especially familiar with the ones in Latin America and Europe, and Kent believes that this knowledge will make Quincey a valuable asset in the company’s continue and accelerate growth with goals that stretch all the way to 2020, as well as the company’s recently announced five (5) strategic actions.
Bonnie Herzog, Wells Fargo analyst, gave a statement of her own saying that Coca-Cola believes that “this structure will allow Kent to focus more on longer-term strategy across the entire Coke system”, rather than worry about day to day operations.
She went on to add that Quincey has favorable regard inside the organization and a young age, relatively speaking, both being elements that makes her believe his new role in the company may position him to become Coca-Cola’s next CEO.
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