SOUTH AFRICA – The Coca-Cola Beverages Africa has announced the appointment of Bruno Pietracci as the new Chairperson of the company board, taking over from Mr Phil Gutsche who recently stepped down.
Mr Gutsche was CCBA’s first Chairperson following the merger of the Southern and East Africa bottling operations of The Coca-Cola Company (Coca-Cola Sabco), SABMiller plc and the Gutsche Family Investments – majority shareholders in Coca-Cola Sabco in 2016, forming the new bottler, CCBA.
The company has paid tribute to Mr Phil Gutsche highlighting that, “Although Mr Gutsche will remain a valued and much-loved board member, we thank him for his steadfast and inspirational leadership as Chair, and to convey something of the impact he has had (and will continue) to have on the company he helped to build.”
The new Chairperson, Pietracci is the President of the Coca-Cola Africa Operating Unit, a new role that was created in 2020 when The Coca-Cola Company was undertaking global business restructuring.
Prior to this, he was the company’s President of Africa and Middle East business unit and has also served as head of the Coca-Cola’s South and East Africa business unit.
“Although Mr Gutsche will remain a valued and much-loved board member, we thank him for his steadfast and inspirational leadership as Chair.”Coca-Cola Beverages Africa
Pietracci joined Coca-Cola in Brazil in 2008 as vice president of strategic planning and research.
In 2010, he moved into operations to lead the Southern Brazil region and was later named general manager of the Colombia, Venezuela and Ecuador markets, partnering with Coca-Cola FEMSA and Arca Continental to growth the business in that region.
In 2016, Pietracci relocated to Atlanta in the role of vice president of operations for Europe, Middle East and Africa. He has also served as a member of the board of directors of Coca-Cola Beverages Africa.
Prior to joining Coca-Cola, he was an associate principal at McKinsey & Co. in Brazil and Lisbon, working in marketing and sales with consumer-packaged goods and telecommunications clients.
Pietracci holds a degree in mechanical engineering from the Universidade Estadual de Campinas in Brazil and an MBA from INSEAD in France.
Mr Gutsche has left the company at a time it is preparing for its next level of growth i.e., listing as a publicly traded company.
The Coca-Cola Company intends to sell a portion of its shareholding in CCBA, via an initial public offering that will see shares traded on the JSE and Amsterdam.
The decision is in line with TCCC’s objective of focusing its resources on building consumer-loved brands and innovation.
It also underscores the company’s continued and long-term belief and commitment to the African continent and the leadership of CCBA from South Africa.
The IPO will allow CCBA to operate as an independent, Africa-focused, South African-headquartered, managed and domiciled business.
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