USA – The Coca-Cola Company has announced that its Senior Vice President and Chief Growth Officer, Francisco Crespo will retire in 2020, stepping down after a three-decade career with the company.
Crespo was appointed to the newly created role in May 2017 where he has focused on building a global community across the company’s operations – as an instrumental aspect of positioning the soft beverage company in the market.
As CGO, Crespo had oversight of integrated global marketing, corporate strategy and customer and commercial operations.
His work included the creation of a global growth framework anchored in the establishment of a disciplined approach to develop the company’s brand portfolio.
“Over the past several years, we’ve worked hard to create headroom for our brands to grow. We created the frameworks and disciplines to capture it, and our results demonstrate our progress,” Crespo said.
“I feel confident that this great company that I love is set for sustained and long-term growth.”
Crespo will remain with the company through June 30, 2020, serving as a senior strategic advisor reporting to James Quincey, Chairman and CEO of The Coca-Cola Company.
Commenting on his departure, Quincey said; “Francisco has played a critical role in the success of our company in recent years, especially in helping develop a growth strategy that has become thoroughly embedded in our operations and our culture.
“He leaves an important legacy of helping make us more focused on fast-changing consumer needs at a critical time.”
New structure unveiled
Supported by a firm growth strategy, the company said that it is evolving the structure of its global growth organization by embedding three main areas in the organizations of three senior leaders.
This will comprise of an integrated global marketing, which includes teams for Creative, Category, Marketing Operations, Design and Knowledge & Insights reporting to Manolo Arroyo.
Arroyo will serve as the company’s Chief Marketing Officer. He will also continue to serve as president of the company’s Asia Pacific Group.
As part of the new structure, the corporate strategy will report to Chief Financial Officer John Murphy while the customer and commercial operations will report to President and Chief Operating Officer Brian Smith.
Coca-Cola believes that the alignment of integrated global marketing under Arroyo will more closely integrate marketing within operations.
Arroyo will continue to lead the Asia Pacific group, reporting to Smith. In addition, Arroyo will report directly to Quincey as part of his new marketing duties.
“We know consumer needs are changing faster and faster, and it is critical for the company to be agile in how it responds and adapts,” Quincey said.
“Manolo’s dual leadership over operations and marketing is a new structure for us, and we anticipate that it will evolve in the months ahead.
“Manolo’s focus will range from developing work that can be used around the globe to supporting local campaigns.”
The structural changes take effect Jan. 1, 2020.
The company has also announced that Bernhard Goepelt will retire as Senior Vice President and General Counsel. He will remain with the company through February 2020. A successor to Goepelt will be named at a later date.