Muhtar Kent, Coca-Cola CEO, has decided to resign, leaving his place to James Quincey. He will stay on until May 2017, but then vacate his position.
Chairman of the board
Kent has been Coca-Cola CEO since 2008 and is also chairman of the board, a position he will maintain after his resignation.
His successor has even been with Coca-Cola longer than Kent has. He joined the company in 1996 and became the operational director in 2015, but will soon become the company’s CEO.
Kent loosened the reigns for Coca-Cola’s bottling partners, improving the mutual understanding. These plants had always been (partially) under control of the parent company, but they have since become more of an independent partner. Coca-Cola, which owns brands like Fanta, Minute Maid and Sprite, still owns the brand rights and makes the pastes with the most important ingredients. The bottling plants then dilute the substance and package it for distribution to stores and restaurants.
