Coca-Cola CEO James Quincey is stepping down and will be replaced by Chief Operating Officer Enrique Brown at the end of March next year, the company’s press service announced.
Quincey, 60, joined the company in 1996, became CEO in 2017, and chairman of the board in 2019. Following his resignation as CEO, he will transition to the role of executive chairman.
Under his leadership, Coca-Cola shares have grown more than 60%, according to Bloomberg. He also succeeded in expanding Coca-Cola’s product offering beyond soda, adding new beverages including coffee, sports drinks, and Fairlife ultra-filtered milk.
Quincey also changed the company’s strategy and operating model to make it more flexible and connected, Coca-Cola’s press service noted. He also focused on digital transformation and marketing modernization, and led the company through the COVID-19 pandemic.
Brown will serve as executive vice president and chief operating officer effective January 1, 2025, and executive vice president effective 2024. Like Quincey, he joined Coca-Cola in 1996.
