In line with the ongoing leadership transition at Atlanta, USA, global beverages giant Coca-Cola is changing its leadership in India. T. KK Krishnakumar, the current chief executive of Hindustan Coca-Cola Beverages (HCCB), will be taking over as the president of Coca-Cola’s India and South-West Asia business unit from 1 May. As the current president, Venkatesh Kini has decided to quit the firm and move back to the US.
Krishnakumar, who is the CEO and South West Asia regional director of HCCB, will be replaced by Christina Ruggiero. At present Ruggiero is holding the position of chief procurement officer for Coca-Cola System in North America and president and CEO for Bottler’s Sales & Services LLC, which is a limited liability company owned by 68 Coca-Cola Bottling members and provides bottling related procurement services. She will be the first women CEO of HCCB.
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“It’s a very important period in our company’s transition globally. Our focus is to come up with more consumer-oriented businesses and a stronger total beverages portfolio, spread in multiple categories, particularly in the developing markets”, said James Murphy, president, Asia Pacific Group, The Coca-Cola Company.
“The Indian market has tremendous growth potential and we believe the revitalising system leadership structure that we announced today will enable us to continue consolidating India as one of the most important growth engines for The Coca-Cola Company globally”, said Irial Finan, president, Bottling Investment Group (BIG). BIG is Coke’s global entity which operates all company-owned bottling operations globally.
Kini, who had spent 19 years in Coke and has been heading operations in the region since 2012, will move back to the US. He cited personal reasons behind the decision.
Coke’s sale in the country has been under pressure during the past two years, with at least four of the past nine quarters with negative volume sales, including key summer months. With changing consumer preferences it has recently focused on expanding its portfolio outside of its core area – carbonated drinks. To capture the growing popularity of juices among Indian consumers, it is also planning to come up with first juice-based fizzy drinks in the country in 2017.