INDIA – Hindustan Coca Cola Beverages (HCCB), the bottling arm of Coca-Cola in India, has named Harsh Bhutani as its Chief Financial Officer.
Bhutani will be responsible for overseeing HCCB’s financial operations, including Business Transformation, Mergers & Acquisitions, Tax, Treasury, Audit, Accounting & Controls, Reporting and Analysis, and Risk Management.
Currently serving as the Vice President of Finance for the India & Southwest Asia Operating unit of The Coca-Cola Company, Bhutani brings over 25 years of experience as a seasoned financial professional.
He is set to return to HCCB after a successful tenure in Coca-Cola India & Southwest Asia, where he played a key role in achieving double-digit growth year-on-year.
Juan Pablo Rodriguez, CEO of HCCB, said, “With his deep financial and business experience, strategic acumen, inspirational leadership, and proven track record of driving strong financial results, his presence will strengthen HCCB’s financial health, steer strategic decision-making, and further bolster stakeholder confidence.”
Bhutani has been instrumental in transforming several key projects with system bottling partners across various parts of India and Southwest Asia. His appointment comes at a time when HCCB is seeking to divest its operations in the region.
In June, The Economic Times reported that the beverage giant had approached four prominent Indian business families for potential investments ranging between US$800 million and US$1 billion.
These families include the Bhartias of Jubilant Group, the Burmans of Dabur, the Parekhs of Pidilite Industries, and the founding family of Asian Paints.
Additionally, HCCB is considering an initial public offering (IPO) as part of its growth strategy.
In the first quarter of 2024, HCCB reported net gains of US$599 million and US$293 million from refranchising its bottling operations in the Philippines and parts of India, respectively.
Earlier this year, HCCB transferred control of its operations in Rajasthan, Bihar, West Bengal, and the northeastern region to local business partners.
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