Coca-Cola CEO Quincy to Take on Chairman Position as Kent Retires
Dow 30 Component, The Coca-Cola Company (KO), is the largest total beverage company in the world. It offers 500 plus brands in over 200 countries and is committed to reducing sugar in its drinks and providing new and diverse drinks to people everywhere.
Current Coca-Cola (KO) CEO James Quincy will take on the role of chairman of the company in April to fill the shoes of outgoing chairman Muhtar Kent. Kent was both Coca-Cola CEO and chairman from 2009-2017 and continued to fill the chairman position after Quincey took the spot of CEO. Kent’s retirement comes after a 40-year long career with the largest beverages maker in the world.
Kent was pleased with the selection of Quincy to take over his position. In a statement regarding the announcement, he stated, “One of the most important jobs of a chairman is to ensure that a strong leadership succession plan is in place. I’m delighted that the board has elected James as chairman. He is the right leader to take the Coca-Cola system to the next level and through the next decade.”
During Kent’s tenure as CEO, he not only increased sales by 39% but also moved the company from a focus on its iconic sugary sodas to a focus on energy drinks and health drinks. During the period the company acquired Monster Beverage Corp (the makers of Monster Energy Drinks) and Suja Life LLC (an organic juice maker).
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