
According to The Wall Street Journal, Coca-Cola has a CEO, and numerous executive vice presidents reporting to him???but no clear number two. The latter is a position the board has allegedly encouraged Kent to fill for some time.
“Discussions between the board and Kent had gotten intense and focused? in the last six to eight months, according to lead independent director?Sam Nunn.??The board has had the view for a good while that Kent was stretched too thin in many respects and he needed operational assistance.?? In its latest round of appointments, the company named president Quincey?as its COO, and the move has caused many to speculate that he’s Kent’s chosen candidate.?Quincey?has been president of Coca-Cola?s European branch since 2013, accounting for 10.5 per cent of sales in 2014. Its operating revenues in Europe also rose by four per cent in 2014,?compared to a company-wide drop of two per cent.? Most recently, he played a major role in the merger?of Coca-Cola?s German bottling business with European bottlers Coca-Cola Enterprises and Coca-Cola Iberian Partners into a combined bottler with more than $12bn (?7.68bn) in annual revenue.? Read more about succession planning:- Succession planning needs to be a boardroom oversight for the get-go
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