Oct 13, 2020
Beverage maker Coca-Cola has announced a series of senior-level changes across most of its key functions as part of a sweeping global restructuring exercise it kicked off last month. The company’s marketing head Vijay Parasuraman is moving to a global role within the company and will be succeeded by Arnab Roy, currently director, sparkling brands in Atlanta.
The maker of Coke and Thums Up cola and Sprite lemon drink has named a new head of India franchise operation Sundeep Bijoria, while Reetima Rakyan will lead franchise operations for South West Asia.
The restructuring is part of a global exercise being undertaken by the world’s largest beverage maker, which also includes replacing 17 existing business units with nine larger operating units.
Coca-Cola is undertaking a voluntary separation program for its 200-plus employees, “aimed at eliminating duplication of resources and enhancing the company’s ability to scale new products more quickly. The reductions in employees will be voluntary and would result in reallocation of roles. The overall global severance programs are expected to incur costs ranging between $350 million to $550 million.
While in-consumption of foods and beverages during the peak lockdown months surged as consumers stayed indoors and pantry stocked, the nationwide lockdown starting March-end impacted out-of-home sales of soft drinks significantly. The April-June quarter accounts for over half of the soft-drink industry’s annual sales of over Rs. 20,000 crore, with out-of-home consumption contributing over three-fourths of its sales.