US: Management shuffle, dividend payment at Coca-Cola Co.
The Coca-Cola Company has confirmed its latest dividend payments and announced two senior management appointments.
The soft drinks giant, which earlier this week posted a 10% lift in third quarter operating profit, said yesterday (18 October) that it will pay US$0.34 per common share for the third quarter. The payment will be made on 15 December to shareholders of record as of 1 December.
At the same time, Coca-Cola appointed Joseph Tripodi a senior vice president. Tripodi, who joined the company in August, leads Coca-Cola's global marketing and commercial organisations. He is also responsible for coordinating and leading the company's strategic direction in commercial leadership.
Meanwhile, former US Secretary of Labor, Alexis Herman has been elected a director of the company with immediate effect. Herman is the current chair and CEO of New Ventures, chair of the Diversity Advisory Board of Toyota Motor Sales, USA., and is a member of the boards of directors of Cummins, Entergy Corporation and MGM Mirage. She served as chairwoman of Coca-Cola's Human Resources Task Force from 2001 to 2006.
On Wednesday, Coca-Cola said that operating profit for the three months to the end of September reached $1.83bn, on the back of a 19% lift in sales to $7.69bn. Net profit was also up in the period, by 13% to $1.65bn.
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