The Coca-Cola Co., Inc. announced today that it will streamline its operations around three major businesses in an effort “to better address the changing demands of the global marketplace.” The reshuffling of Coke’s operational structure will be effective on January 1, 2013.
Beginning next year, Coke’s operations will be comprised of Coca-Cola International, which covers Europe, Pacific and Eurasia & Africa; Coca-Cola Americas, which covers North America and Latin America, and; Bottling Investments Group (BIG), which oversees Coke-owned bottling operations outside of North America.
“This is the right structure for the next phase of our journey toward achieving our 2020 Vision,” said Muhtar Kent, the chairman and chief executive of Coke, referring to the company’s goal of doubling revenues by the end of the decade.
The new business divisions will be headed up by three seasoned veterans of Coke. Ahmet Bozer, currently the president of Coke’s Eurasia & Africa Group, will be appointed president of Coca-Cola International. Steve Cahillane, who is the president and CEO of Coca-Cola Refreshments (CCR), will become the president of Coca-Cola Americas. Irial Finan will remain as president of BIG. All three executives will report to Kent.
“By consolidating leadership of our global operations under two large, but similar sized geographic regions and BIG, we will streamline reporting lines, intensify our focus on key markets and create a structure that leverages synergies and gives us flexibility to strategically adjust our business within those geographies in the future,” said Kent.