Two longtime Coca-Cola Co. directors, James Robinson III and Peter Ueberroth, will retire from the board this year, the beverage company said Thursday.
Robinson, 79, former chief executive officer of American Express, joined the board in 1975. Robinson is co-founder and general partner of the venture capital firm RRE Ventures, and he is president of J.D. Robinson Inc., a strategic advisory firm.
Ueberroth, 77, is a former commissioner of Major League Baseball and former chairman of the U.S. Olympic Committee. Ueberroth, an investor, is chairman of the Contrarian Group Inc., chairman of Aircastle Ltd and co-chairman of Pebble Beach Co.
Robinson and Ueberroth will not stand for re-election at the company’s annual shareholders meeting in April. Afterward, the board will have 15 directors, with the addition this month of new directors Marc Bolland, CEO of Marks & Spencer Group PLC, and David Weinberg, chairman and CEO of Judd Enterprises Inc.
In a statement, Coca-Cola Chairman and Chief Executive Officer Muhtar Kent noted Robinson’s 40 years of service and Ueberroth’s 29 years on the board.
“In addition to their successful careers as leading executives, they have spent countless hours working for our Board and on behalf of our Company and the Coca-Cola system around the world,” Kent said. “Jimmy served with distinction as the Chair of our Committee on Directors and Corporate Governance and Presiding Director. Peter chaired our Audit Committee and provided invaluable guidance to many of our finance leaders throughout the years.”
