Coca-Cola ditches global CMO role in leadership shake-up

The shake-up will see Coca-Cola’s chief marketing officer Marcos de Quinto retire, as the soft drinks giant moves the marketing function under the remit of the newly-created chief growth officer role.

Coca-Cola cmo

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”.

Hide Comments1 Show Comment
Comments

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here