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Coca-Cola Amatil lines up CFO exit

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Coca-Cola Amatil's CFO is set to leave as the Australia-based soft drinks bottler continues a business restructure. 

CCA is to axe up to 260 jobs

CCA is to axe up to 260 jobs

Nessa O'Sullivan, who has been finance chief since 2010, will depart after next month's extraordinary general meeting (EGM) but will advise the company until the end of May. Her successor will be announced “in the near future”, the Sydney-headquartered company said. 

Alison Watkins, CCA's chief executive, who was appointed a year ago, said she was “grateful” for O'Sullivan's support during her first year at the firm “and the continuity she provided”. 

Watkins has implemented an AUD100m (US$83m) cost-savings programme at CCA that includes the axing of up to 260 jobs. In October, the group announced a strategic review as well as detailing plans to close one of its production facilities

The EGM on 17 February will allow shareholders to vote on a stake sale of CCA's Indonesian unit to the Coca-Cola Co.

CCA also announced that Peter Kelly, head of the company's packaged food unit, SPC Ardmona, will leave at the end of March.


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