US: Coca-Cola Co to create 100,000 jobs by 2022 - report
Muhtar Kent told Fox Business News that Coca-Cola will create 10,000 jobs per year, globally
The chairman and CEO of The Coca-Cola Co has said the company will look to create around 100,000 jobs globally, over the next ten years, according to reports.
Speaking on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, today (26 January), Muhtar Kent told Fox Business News that the company will create 10,000 jobs per year, globally. The CEO said Coca-Cola was "growing, investing and creating jobs" in the US, Europe and particularly in emerging markets.
"China and many other emerging markets are learning to support businesses very fast," Kent added. "We need to make sure that we don't fall behind."
Last month, Coca-Cola said it will increase investment in the US this year to top the $3bn it spent in 2011. A month earlier, the company announced a $2bn spend in India, and in September pledged a $4bn investment with its bottling partners in China over the next three years.
Speaking to CNN, also on the sidelines of the WEF, Kent said that Coca-Cola remains "very confident" of its future in the US.
"The US has, by far, the best demographics; we are a growing nation, we have corrected our fiscal situation quicker and better than most people gave us credit for in the last two years, and I think that's why we are beginning to see that consumers are starting to feel better about the future of the US than they were two years ago."
Despite this, Kent said he would support an "overhaul of our tax policy" in the US, in order to "be more competitive, to meet the needs of the 21st Century".
In September, the CEO told the Financial Times that he sees the US becoming "a less friendly business environment" than China, due to political gridlock and an antiquated tax structure.
Speaking to CNN today, Kent added: "It isn't a zero-sum game when it comes to China. I think we all need to have a keener focus on free trade, and developing free trade, because it is good for jobs in the US and it is good for jobs in China ... that is an imperative.
"We still feel confident about the world. That's why we have earmarked $30bn of investments across the world in the next five years, and that's how we will generate jobs," he said.
- Diageo's Q4/FY 2016 results - Preview
- Wine consumption and its health effects
- Diageo's FY performance by region - Focus
- Can craft breweries compete in lager arena?
- Time to take stock of Constellation's Corona
- SABMiller puts brakes on A-B InBev integration
- Diageo names new TR head as Doug Bagley exits
- AB InBev seeks single buyer for European beers
- Diageo sets sights on alcohol-alternative trends
- Gruppo Campari trials Negroni pre-mix
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends