On Wednesday, Coca-Cola announced the appointment of in-house executive Henrique Braun as its new chief executive, replacing James Quincey, as food companies try to adjust their strategies for consumers seeking healthier, more affordable drinks and snacks.
Coca-Cola’s portfolio of sugar-free beverages, as well as its more premium product lines such as Fairlife milk, have kept the company better off in an unstable consumer landscape, unlike rivals like PepsiCo.
Both Quincey and Braun joined the company in 1996 and have held leadership roles across the world at Coca-Cola. Braun, 57, will take over as chief executive of the drinks giant on March 31.
Braun was named Coca-Cola’s chief operating officer in January, bringing with him experience at the company in areas such as supply chain, new business development and bottling operations.
‘I will focus on continuing the momentum we have built with our system. We will work to unlock future growth in partnership with our bottlers,’ Braun said in a statement.
Coca-Cola’s share price has risen nearly 63% since Quincey, 60, took over as chief executive in May 2017.
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Quincey has led the company during a period in which the soft drink maker intensified its focus on sugar-free and low-calorie beverages, as well as adding product lines such as milk, sparkling water, coffee and energy drinks through acquisitions.
‘Quincey set a high standard. Investors can expect the new CEO to continue to refresh the brand portfolio,’ said Kimberly Forrest, chief investment officer at Bokeh Capital Partners.
The consumer goods sector has seen a series of changes in senior management roles this year as companies adapt to a divided consumer environment, as well as operational and supply chain challenges due to tariffs.
