The soft drinks giant is getting a new CFO

The soft drinks giant is getting a new CFO

The Coca-Cola Co has made an internal appointment for its new CFO as the current incumbent is set to retire after 20 years with the company.

Kathy Waller, 55, will succeed Gary Fayard as the group’s top financial executive when she is elected at a board meeting in April, the company said today (20 February). Waller, who will report in to CEO Muhtar Kent in her new role, joined Coca-Cola in 1987 and is currently the firm’s finance and controller VP.

Prior to joining the company, Waller worked for Deloitte. 

“Kathy brings more than 25 years of experience with the company and a passion for leading teams and developing talent,” said Fayard of his successor. 

Fayard, 62, joined Coca-Cola in 1994 as VP & controller, before being promoted five years later to to senior VP & CFO. In 2003 he was promoted to executive VP & CFO. He will officially retire from the group in May.

Earlier this week, the company reported a single-digit fall in full-year net sales and profits, which it blamed on "macroeconomic challenges" in many of its markets.