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Coca-Cola appoints a new CEO on March 31: James Quincey, CEO since 2017, will hand over the reins to Chief Operating Officer Henrique Braun. Quincey will become Executive Chairman and thus remain an influential voice within the group.
More than just cola
Quincey led the company through a period in which consumers were buying fewer and fewer sugary drinks. He thoroughly redesigned the portfolio, eliminated weak links, and broadened Coca-Cola’s vision to become a “total beverage company.” Under his leadership, more than ten brands exceeded the billion-dollar revenue mark, including BodyArmor, Topo Chico, and Fairlife.
At the same time, he cut back on the range. Honest Tea and Tab were taken off the shelves and Coca-Cola sold its coconut water brand Zico. The strategy revolved around prioritizing fewer but larger brands. He also invested in smaller can sizes and sugar-free variants and brought Coca-Cola back into the alcohol category through partnerships with Molson Coors and Brown-Forman.
As the new CEO, Braun must now achieve further growth in a market where traditional soft drinks are losing ground to water, sports drinks, and energy drinks. The CEO will be tasked with responding to this shift without neglecting the core business. He already knows the company inside out: since joining in 1996, he has worked in North America, Europe, Latin America, and Asia in roles ranging from supply chain and marketing to innovation and bottling operations.
