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Coca-Cola axes global CMO role in senior leadership overhaul24.03.2017
Coca-Cola has abolished the role of global chief marketing officer, as part of a major senior leadership reshuffle aimed at creating a more “growth-oriented, consumer-centred” company.
Marcos de Quinto, who assumed the role of CMO in January 2015, is to retire from the business, ending a 35-year career at Coca-Cola.
Rather than appoint a direct replacement, the soft drinks firm has opted to appoint Francisco Crespo the role of chief growth officer, encompassing global marketing, corporate strategy, and customer and commercial.
Crespo, a 28-year Coke veteran, currently serves as president of its Mexico business unit.
In a statement, the company claimed Crespo is “uniquely qualified” for the role, having led the expansion of Coca-Cola’s beverage portfolio in each of its key Latin America markets.
As part of the restructure, president and chief operating officer James Quincey will take on the role of CEO from 1 May.
Quincey commented: “Today’s organisational announcement is another building block in our company’s transformational journey.
“We are moving quickly to structure our organisation for faster growth and to ensure we can respond to the fast-changing needs of our consumers, customers, system and associates around the world. Each of the leaders named today is highly capable and understands our clear mandate for change, and I look forward to partnering with them as we transform our business for the future.”