US: Former Coca-Cola Co president to quit board
Keough joined Coca-Cola in 1960
The Coca-Cola Co's former president & COO Donald Keough is to retire from the company's board at the age of 86.
Keough, who served as president & COO from 1981 to 1993, will not stand for re-election at Coca-Cola's annual shareholders meeting in April, the company said yesterday (21 February). Former Coca-Cola director James Williams, 79, will also retire from the board at the meeting, Coca-Cola said.
Keough joined Coca-Cola in 1960 when it acquired the company he worked for, Butter-Nut Coffee. During his tenure, Keough helped steer Coca-Cola through the “cola wars” of the 1980s, when soft drinks companies increased marketing spend in a fight for market share. Keough also served as head of The Coca-Cola Foods Division from 1971 to 1973.
Coca-Cola CEO Muhtar Kent said: “Many of our current Coca-Cola leaders learned this business under Don, and I have personally benefited from his guidance, mentorship and friendship for more than 30 years.”
Earlier this month, Coca-Cola posted a strong set of full-year results despite continuing problems in Europe.
Consumption of fruit/vegetable juice declined in 2012 in both the off-trade and on-trade channels. Off-trade volume sales of fruit/vegetable juice fell by 5% in 2012; a third consecutive year of decli...
Coca-Cola Co's chief executive Muhtar Kent has argued that the group's second quarter performance is an "anomaly" caused by a combination of uncontrollable factors and not a "systemic" issue. ...
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