Coca-Cola will consist of three businesses from next January

Coca-Cola will consist of three businesses from next January

The Coca-Cola Company has today (30 July) announced plans for a more streamlined corporate structure that will see the company split into three businesses. 

From January, the group will divide into Coca-Cola International - consisting of Europe, Pacific and Eurasia & Africa operations; Coca-Cola Americas, comprising its North America and Latin America operations; and Bottling Investments Group (BIG), which oversees its bottling operations outside of North America.

Currently, the company is split into five groups - Europe, Eurasia & Africa, Pacific, North America and Latin America. 

Just-drinks understands the annoucement is not a move to cut costs, but designed to increase the efficiency of the company's operations.  

The changes will mean two executives stepping up to take on new roles, Coca-Cola said. 

Ahmet Bozer, Eurasia & Africa Group president, will be president of Coca-Cola International. Steve Cahillane, president & CEO of Coca-Cola Refreshments (CCR), will be Coca-Cola Americas' president. 

Irial Finan will continue as president of BIG. Coca-Cola said all three will continue to report to Muhtar Kent, Coca-Cola's chairman & CEO. 

Kent said: "By consolidating leadership of our global operations under two large, but similar-sized geographic regions and BIG, we will streamline reporting lines, intensify our focus on key markets and create a structure that leverages synergies and gives us flexibility to strategically adjust our business within those geographies in the future.”

He added the company has been adapting its business model to "better address the changing demands of the global marketplace", over the past two years. 

Earlier this month, Coca-Cola reported a slowing of profits in its second quarter, while H1 profits rose slightly. 

Shares in Coca-Cola were up 0.44% to US$80.36 today.