The Coca-Cola Co. promotes COO Henrique Braun to CEO

The Coca-Cola Company has promoted main operating serviceman Henrique Braun to the presumption of CEO.

Braun volition presume the caller relation connected 31 March, succeeding James Quincey, who, aft astir 9 years arsenic CEO, volition go the drinks giant's enforcement chairman.

In a connection yesterday (10 December), the Diet Coke proprietor said Braun’s priorities arsenic CEO see “seeking the champion maturation opportunities worldwide”.

He volition besides absorption connected “driving the institution to get adjacent person to user needs; and leveraging exertion arsenic an enabler of concern show and growth”, the connection added.

Both Quincey and Braun joined Coca-Cola successful 1996 and person risen done a bid of enactment roles crossed assorted markets.

Braun, who became COO successful January, brings acquisition successful proviso chain, bottling and caller concern development.

He has worked arsenic elder vice president and president for planetary development, managing 7 of Coca-Cola’s 9 operating units.

Braun has been president of the Sprite owner's businesses successful Latin America, Brazil, Greater China and South Korea.

Quincey became Coca-Cola CEO successful 2017 and past besides president of the committee successful 2019.

Before taking the apical job, helium was appointed COO successful 2015 aft 2 decades astatine the institution that included stints arsenic president of Coca-Cola’s Europe Group and president of its operations successful Mexico.

Coca-Cola said it has added much than 10 further “billion-dollar” brands to its portfolio during Quincey’s tenure.

The institution besides credited him with playing a “key” relation successful the enactment of Coca-Cola Europacific Partners, 1 of the world’s largest Coca-Cola bottlers.

Under Quincey’s leadership, Coca-Cola's yearly nett revenues grew from $31.9bn successful 2018 – his archetypal afloat twelvemonth arsenic CEO – to $47.1bn successful 2024. Net income attributable to shareowners roseate from $6.43bn to $10.63bn implicit the aforesaid period.

In August, Sky News reported Coca-Cola had appointed Lazard, the concern bank, to reappraisal its options for Costa Coffee, which operates successful astir 50 countries worldwide. Coca-Cola snapped up the UK java concatenation successful 2018 for £3.9bn ($5.2bn).

Speaking to analysts successful July aft Coca-Cola reported its second-quarter fiscal results, Quincey was asked to bespeak connected the java marketplace and the company’s strategy successful the sector.

He said: “Coffee is simply a large, fragmented, increasing class successful the full beverage industry, so, it’s intelligibly charismatic if we and the bottling strategy tin find ways to enactment much profoundly successful that category.

“Now, having said that, our concern successful Costa is not wherever we wanted it to beryllium from an concern proposal constituent of view.