The Coca-Cola Co will report its first-quarter results tomorrow (15 April). Here, just-drinks takes a look at the company’s highs and lows in the three months to the end of March:
- Coca-Cola got the year off to a positive start with news it had received the green light from US authorities to use a new type of stevia jointly developed with PureCircle. The two companies are seeking global intellectual property coverage for the ingredient, Reb M.
- At the end of January, Coca-Cola’s Middle East JV, Aujan Coca-Cola Beverages Company, agreed to buy Lebanon’s National Beverage Company.
- In February, Coca-Cola announced a move into the home carbonation machine market with a US$1.25bn investment in Green Mountain Coffee Roasters. The two companies are developing the Keurig Cold machine in a deal that includes a ten-year agreement to use Coca-Cola branded beverages in the at-home system.
- Analysts at Bernstein Research predicted that both Coca-Cola and PepsiCo are expected to announce more cost-cutting measures this year, with CSD declines giving the companies “greater leverage for management” to pursue the measures.
- Coca-Cola promoted Kathy Waller to CFO as Gary Fayard announced his retirement after 20 years with the company. Waller was the firm’s finance and controller VP.
- Towards the end of February, Coca-Cola said it will inject $400m into media backing for its brands this year as it shifts marketing focus from consumer promotions to advertising.
- Last month, Coca-Cola announced that it paid CEO Muhtar Kent 16% less last year. Kent picked up $18.2m for 2013, mostly in stock awards.