The Coca-Cola Company has announced that James Quincy is appointed as president and chief operating officer of the company effective immediately, according to a press release issued by Coca-Cola.
Quincy, 50, will be in charge of all of the company's operating units worldwide.
Muhtar Kent, chairman and chief operating executive of Coca-Cola, said in the press release that he is pleased with the appointment of Quincy.
"He has proven to be a successful and trusted leader, who brings to this position a strong reputation for developing people and inspiring teams," he said.
"His wealth of experience across our global system, particularly in Europe and Latin America, will be a valuable asset as we continue to accelerate growth through our 2020 Vision and our previously announced five strategic actions," he added.
Bloomberg adds that Ali Dibadj, a New York-based analyst at Sanford C. Bernstein & Co., said that Quincy's appointment will serve the company well.
He said that Coca-Cola will benefit from Quincy's understanding of the international markets, his knowledge of the company's non-carbonated beverage segments, and his experience in making acquisitions.
With the appointment, several executives of the company will be reporting to Quincy.
The executives will be Irial Finan, president of the Bottling Investments and Supply Chain, J. Alexander "Sandy" Douglas Jr., president of the North America Group, Brian Smith, president of the Latin America Group, Atul Singh, president of the Asia Pacific Group, Nathan Kalumbu, president of the Eurasia & Africa Group, and Harry Anderson, senior vice president of the Global Business Services, according to the press release.
Deryck van Rensburg and Doug Jackson, executives of Coca Cola's strategic investment partnership, Dan Sayre, president of the Western Europe Business Unit, and Nikos Koumettis, president of the Central and Southern Europe Business Unit, will also be reporting to Quincey.
Bloomberg adds that the appointment has setup Quincy, a 19-year veteran of Coca-Cola, to be a potential successor to Kent.
"It clearly suggests a succession-planning step for the company," Ali Dibadj, a New York-based analyst at Sanford C. Bernstein & Co., told Bloomberg. "They're putting some of the chairs in place."
Quincy recently served as Coca Cola's president of the Europe Group, according to the press release.
