Coca-Cola has announced a new leader of its namesake philanthropic arm.
Carlos Pagoaga has been named president of the Coca-Cola Foundation and has also been appointed as vice president of global community affairs for the Atlanta-based beverage giant. Pagoaga will take on the new roles beginning June 1. He succeeds Saadia Madsbjerg, who is departing the company.
Pagoaga currently leads the Coke foundation’s global recycling efforts.
“Carlos will build on the great progress Saadia has made in shaping the strategic direction of the foundation for the future. I thank Saadia for her service and congratulate Carlos on his new role,” said Bea Perez, Coke executive vice president and global chief communication, sustainability and strategic partnerships officer, said in a Wednesday news release.
Perez chairs the foundation board, which must approve Pagoaga’s appointment, the release said.
Pagoaga joined Coke in 1990 in managing relations with Latino organizations and U.S. elected leaders. He’s since moved up the ranks and joined the foundation in 2007, managing large grants, including one for the Atlanta Beltline, Coke said.
“I’m thrilled to have the opportunity to lead the Coca-Cola Foundation and to work with our partners,” Pagoaga said in the release. “I’m deeply proud of the role Coca-Cola plays in the world and of the Foundation’s contributions to so many groups and communities.”
The Coke foundation directs its giving to causes that expand access to clean water, climate resilience, disaster preparedness, recycling and other causes. The foundation has provided more than $1.6 billion in grants since its establishment in 1984, the company said.
Coca-Cola has come under fire from environmental groups for its fossil fuel-based plastic bottles littering the world’s oceans and ending up in landfills.
Coke has set a goal of 25% of its packaging being reusable by 2030. The company also introduced recyclable bottles made in part with plant-based plastics in 2009, a product line it has expanded in recent years.
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