James Quincey, who has served as president of Coca-Cola’s Europe Group since 2013, has been named the beverage giant’s president and chief operating officer, the Atlanta-based company said Thursday.
The promotion makes Quincey the company’s second-in-command behind CEO Muhtar Kent and is likely to create speculation that Quincey is being tapped to succeed Kent.
Thursday’s news comes also as long-time Coke leader Ahmet Bozer, executive vice president and president of Coca-Cola International, simultaneously announced that he will retire next March. Bozer, 55, who has been with the company for 25 years, was heavily favored by some to be the next in line for the CEO position.
“Ahmet has been a consummate Coca-Cola leader who will be remembered by everyone across our system as a leader of great integrity, character and intellect,” Kent said in a statement. “He was a very important and respected business partner of mine over many years. He was also a great friend, and will remain so. I want to wish Ahmet and his family continued success and happiness in the future.”
In a release, Coke called the Europe Group that Quincey headed its most profitable operating group and praised it for expanding strategically “its brand portfolio and improved execution across the geography.” The Europe Group comprises 38 countries, including the European Union, the European Free Trade Association countries and the Balkans.
Quincey, 50, will focus on the company’s growth, productivity and marketing while Kent will look at its long-term strategy, capital structure and innovation pipeline, Kent said in a call with media after the announcement.
“Over nearly two decades, James has built an impressive track record of strategic, operational and commercial accomplishments,” Kent said.
“He has proven to be a successful and trusted leader and brings to this position a strong reputation for developing people and inspiring teams. His wealth of experience across our global system, particularly in Europe and Latin America, will be a valuable asset as we continue to accelerate growth through our 2020 Vision and our previously announced five strategic actions. James is emblematic of the deep bench strength we have developed at Coca-Cola, and I could not be more pleased about his appointment to this critical role at this important time.”
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