Muhtar Kent has successfully managed one of the most notorious brands in the world for eight years now. At the age of 64, time has come for him to step down and make way for a new CEO. His replacement is James Quincey who is a British business executive. On 1st May 2017, he will leave his present position of chief operating officer to receive the helm of the prestigious company. This announcement made public a decision that resembles that of Starbucks. Howard Schultz is another chief executive who stepped down a few days ago.
James Quincey has developed a 20-year career within Coke Company. The former CEO speaks highly of him and entrusts the future of the company in his capable hands without second thoughts. James has already a vast expertise concerning the majority of Coca-Cola brands, and his decisions were always aligned with the values of this community. His job as a chief operating officer has put him in the position to secure the global brand against the ever-changing tastes of consumers. He has proven to have a high capacity of adaptability to his clients’ demands.
He will have a tough job to manage the great legacy of Muhtar Kent. He succeeded to transport the company into a global level expand product portfolio and develop sustainability. However, the new CEO has already ambitious projects of his own. He intends to lead Coca-Cola toward the even greater evolution of the soft beverages industry. He intends to market new products and weaken the company’s dependency on soda, which accounts for 70% of its sales. James Quincey will focus on concentrate-making operation, which shows signs of being the most profitable branch of the company at this hour.
During the recent years, the company faced a series of global concerns regarding the health issue. Its carbonated beverages were for too many times linked to serious illnesses, such as cancer, diabetes, and heart failure. James Quincey has been a key element in the company’s new goal of improving their beverages to answer these public concerns. This is why the naming of James Quincey as new CEO of Coca-Cola is proof that the company intends to diversify its income sources beyond carbonated beverages.
The new CEO promises to preserve the 130 year old history of Coca-Cola. At the same time, he will have to lead the company to the footsteps of its target audience and adapt it to their evolving preferences and interests.
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