Coca-Cola Ditches Global CMO Role In Leadership Shake-Up
Coca-Cola is getting rid of its global chief marketing officer function by merging it with ‘customer and commercial leadership as well as strategy’ to create a new ‘chief growth officer’ role. As a result, current chief marketing officer Marcos de Quinto is set to retire after a near 35-year career at the company.
The change comes as the soft drink giant announced a number of senior leadership appointments today (23 March), which look to drive its ongoing transformation into a “growth-oriented and consumer-centered” beverage company.
Francisco Crespo, who currently serves as president of the Mexico business unit, will fill the newly created role of chief growth officer. Crespo, who has been with the business for 28 years, will lead Coca-Cola’s global marketing, corporate strategy, and customer and commercial leadership teams.
Meanwhile, Robert Long, currently vice president of research and development, will become a direct report to the CEO as chief innovation officer. Jennifer Mann, currently chief of staff to Quincey, will become chief people officer. Bea Perez, vice president and chief sustainability officer, will become chief public affairs, communications and sustainability officer.
The changes will come into effect when chief operating officer James Quincey becomes the new CEO on 1 May.
“Today’s organisational announcement is another building block in our company’s transformational journey,” said Quincey.
“We are moving quickly to structure our organisation for faster growth and to ensure we can respond to the fast-changing needs of our consumers, customers, system and associates around the world. Each of the leaders named today is highly capable and understands our clear mandate for change, and I look forward to partnering with them as we transform our business for the future.”
In a statement, Quincey also paid tribute to the departing de Quinto. He took up the CMO position in January 2015 and has been responsible for launching the company’s ‘One Brand’ marketing strategy, the “Taste the Feeling” campaign, as well as the global relaunch of Fanta that is rolling out this year.
Coca-Cola praised de Quinto for “improving our marketing productivity, which enabled significant reinvestments in marketing spend and supporting results in the company’s growth”.