Coca-Cola stated Wednesday that its chief working officer will change into its subsequent CEO within the first quarter of 2026.
The Atlanta beverage big stated 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. Prior to assuming the COO function earlier this 12 months, he led operations in Brazil, Latin America, Greater 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 University Federal of Rio de Janeiro, a grasp of science diploma from Michigan State University and an MBA from Georgia State University.
David Weinberg, Coca-Cola’s lead impartial director, referred to as Quincey, 60, a “transformative chief” who will proceed to stay energetic within the enterprise.
During 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 Hard Seltzer, which went on sale in 2021.
In 2020, Quincey led a restructuring that diminished Coke’s manufacturers by half and laid off 1000’s of staff. Quincey stated Coke wished to streamline its construction and focus its investments on fast-growing merchandise like its Simply and Minute Maid juices.
But as Quincey steps down as CEO, Coke is going through quite a few challenges, together with tepid demand for its merchandise within the U.S. and Europe and rising buyer scrutiny of its substances. This summer season, after a nudge from President Donald Trump, Coke stated it could launch a model of its trademark Cola with cane sugar as a substitute of high-fructose corn syrup.
Weinberg stated the board is assured that Braun will construct on the corporate’s strengths and search out development alternatives globally.
Coke shares had been flat in after-market buying and selling.
