Coca-Cola names an organization veteran as its new CEO
Coca-Cola (KO) mentioned Wednesday that its chief working officer will turn out to be its subsequent CEO within the first quarter of 2026.
The Atlanta beverage big mentioned its board elected Henrique Braun as CEO efficient March 31. James Quincey, Coke’s present chairman and CEO, will transition to government chairman of the corporate.
Braun, 57, has labored at Coca-Cola for 3 a long time. Previous to assuming the COO function earlier this 12 months, he led operations in Brazil, Latin America, Better China and South Korea. He has held positions overseeing Coke’s provide chain, new enterprise improvement, advertising and marketing, innovation, basic administration and bottling operations.
Braun was born in California and raised in Brazil. He holds a bachelor’s diploma in agricultural engineering from the College Federal of Rio de Janeiro, a grasp of science diploma from Michigan State College and an MBA from Georgia State College.
David Weinberg, Coca-Cola’s lead unbiased director, known as Quincey, 60, a “transformative chief” who will proceed to stay energetic within the enterprise.
Throughout Quincey’s 9 years as CEO, Coke added greater than 10 extra billion-dollar manufacturers, together with BodyArmor and Fairlife. He additionally introduced Coke into the alcoholic drink market with Topo Chico Laborious Seltzer, which went on sale in 2021.
In 2020, Quincey led a restructuring that decreased Coke’s manufacturers by half and laid off hundreds of workers. Quincey mentioned Coke needed to streamline its construction and focus its investments on fast-growing merchandise like its Merely and Minute Maid juices.
However as Quincey steps down as CEO, Coke is dealing with quite a few challenges, together with tepid demand for its merchandise within the U.S. and Europe and growing buyer scrutiny of its components. This summer season, after a nudge from President Donald Trump, Coke mentioned it could launch a model of its trademark Cola with cane sugar as a substitute of high-fructose corn syrup.
Weinberg mentioned the board is assured that Braun will construct on the corporate’s strengths and hunt down progress alternatives globally.
Coke shares had been flat in after-market buying and selling.
